Exercise of employee share options and release of employee restricted share units
1. Participants in the Company's share option program have on March 20th 2017 exercised 348,686 options and 335,205 RSU's.
On the same date Opera Software purchased 530,618 own shares at a price of NOK
38.0355 per share to settle its obligation to deliver the shares. The price was equal to the volume weighted average price of the day. The shares were purchased in accordance with the proxy given by the Company's Annual General Meeting on 28 June 2016.
2. Options exercised and restricted share unites released by primary insiders March 20th 2017:
Baard Farmen Andresen has exercised 40,000 options in the Company, corresponding to 40 000 shares at the strike price of NOK 15.43.
Lars Boilesen has received 34,612 shares.
Thomas Bullen has received 1,000 shares.
Brian Kesterson has received 3,302 shares.
Will Kassoy has received 4,304 shares.
3. Transfer of rights and sale of shares On March 20th, 2017, the primary insiders mentioned below transferred their rights to receive shares resulting from the exercise of options to a third party.
Baard Farmen Andresen has transferred 40,000 rights.
When the participants receive the shares they will be subject to pay salary tax on the total value of the shares received. In order to cover the taxes the employees must at minimum sell a predetermined rate of the shares set by Opera. On March 20th, 2017 the primary insiders mentioned below ordered for the receivedshares to be immediately sold by a third party.
Lars Boilesen has sold 18,768 shares to cover taxes.
Thomas Bullen has sold 446 shares to cover taxes.
Brian Kesterson has sold 3,302 shares.
Will Kassoy has sold 1,630 shares to cover taxes.
The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. The payment has been determined based on a selling price of NOK 38.0355 per share.
4. New Holding, prior to contingent options grants and cancelation of RSU’s at Opera EGM 4th April 2017.
After completion of the abovementioned transactions, Baard Farmen Andresen holds 20,000 unexercised options in the Company. As of today the primary insider holds 2 633 shares in the Company.
After completion of the abovementioned transactions, Lars Boilesen holds 84,600 RSUs in the Company. As of today the primary insider holds 179 972 shares in the Company.
After completion of the abovementioned transactions, Thomas Bullen holds 1,000 RSUs in the Company. As of today the primary insider holds 1 664 shares in the Company.
After completion of the abovementioned transactions, Brian Kesterson holds 50,000 RSUs in the Company. As of today the primary insider holds 621 shares in the Company.
After completion of the abovementioned transactions, Will Kassoy holds 329,167 RSUs in the Company. As of today the primary insider holds 191 162 shares in the Company.
For further information, please contact:
Petter Lade, CFO
Phone: +47 91143878
E-mail: petterl@opera.com
About Opera:
Opera holds shares in several different businesses, including AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 1 billion; Opera Apps and Games (Bemobi); "Performance & Privacy" (Skyfire and Surfeasy); and Opera TV.