Sobi's CEO divests a portion of incentive shares
Swedish Orphan Biovitrum AB’s (publ) (Sobi™) CEO Geoffrey McDonough has divested 230,000 of the shares he holds in the company. The sale was made in part to pay the estimated US tax due relating to the vesting of the company’s 2013 long-term incentive programme, and to prepare to invest in the upcoming 2016 long-term incentive programme should it be approved by the Annual General Meeting later this month.
The 2013 long-term incentive programme has met its objectives and will vest in full. Geoffrey McDonough will receive 135,000 shares under this programme. After the transactions, the CEO will hold a total of 647,845 shares in the company.
When receiving incentive shares, their fair market value will be taxed as income at the time of allotment. In the US preliminary tax must be remitted on the allotment date.
Terms and conditions of the proposed Sobi 2016 Executive long-term incentive program can be found on www.sobi.com.
Sobi™ is an international specialty healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primarily focused on Haemophilia, Inflammation and Genetic diseases. We also market a portfolio of speciality and rare disease products across Europe, the Middle East, North Africa and Russia for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2015, Sobi had total revenues of SEK 3.2 billion (USD 385 M) and approximately 700 employees. The share (STO:SOBI) is listed on NASDAQ Stockholm.
For more information please contact
|Media relations||Investor relations|
|Oskar Bosson, Head of Communications||Jörgen Winroth, Vice President, Head of Investor Relations|
|T: +46 70 410 71 80||T: +1 347-224-0819, +1 212-579-0506, +46 8 697 2135|
The information set out in this press release is announced in accordance with the Swedish Securities Market Act. The information was submitted for publication on 16 May 2016 at 08:30 CET.