Asetek – Employee Stock Option Program
Aalborg, November 2, 2018. The Board of Directors of Asetek A/S (the Company) has decided to introduce an employee stock option program. The option program, approved on October 31, 2018, will replace the warrant scheme previously in place.
The new program governs grant of options to buy shares of Asetek to management and employees of the Company with the objective to support employee motivation and retention. The program is governed by the Company’s general guidelines for equity incentive programs as it was adopted on August 14, 2013.
The options awarded under the program will vest over 1-3 years following the initial grant and they will have a lifetime of 7 years. The exercise price will be determined by the closing price of the Asetek share on the Oslo Stock Exchange on the day following the decision to grant the options. Upon termination of the position with the Company, the recipient will no longer receive further grants, and – subject to local legal regulations – the receiver may be forced to exercise any exercisable options, or they will expire.
Simultaneously to the approval of the option program, a decision was made to grant options under the program. A total of 378,500 options to purchase Company shares at NOK 46.30 each was granted to management and employees of the Company. Executive management was granted 79,300 options, and 102,100 options were granted to other management members. Other employees, in the Company’s subsidiaries in Denmark, USA and China were granted a total of 197,100 options.
Asetek is the global leader in liquid cooling solutions for data centers, servers and PCs. Founded in 2000, Asetek is headquartered in Denmark and has operations in California, Texas, China and Taiwan. Asetek is listed on the Oslo Stock Exchange (ASETEK.OL).
For further information, please contact:
Peter Dam Madsen
Chief Financial Officer
Mobile: +45 2080 7200