Atea Share Savings Program – notification of trade

Reference is made to the stock exchange notice dated June 6, 2023 regarding the launch and terms of the Atea Employee Share Savings Program (the “Program”). The purpose of the Program is to engage employees and foster a culture of employee ownership in the Company.

Under the terms of the Program, participating employees may allocate a fixed amount of their monthly after-tax salary to purchase shares in Atea ASA (up to a maximum per month is NOK 1,000 in Norway, SEK 1,000 in Sweden, DKK 700 in Denmark and EUR 100 per month in Finland and the Baltic countries). Shares are purchased by employees from Atea ASA’s treasury share holdings at market price. The price of the shares purchased is determined based on the volume-weighted average price of the ATEA share on the day preceding the share transfer.

As an additional incentive, participating employees will receive one “bonus” share for each two ordinary shares purchased under the Program after a vesting period in which the specified ordinary shares must be held. The vesting period is three years for executive management and two years for all other employees. The participant must also remain employed by Atea during the vesting period in order to receive the bonus share.  The “bonus” share is treated as a restricted stock unit (RSU) under IFRS 2 Share-Based Payment.

3,061 Atea employees are presently registered in the Program, representing approximately 37% of all employees in the Atea Group. 

On August 8, these employees purchased 62,974 shares in Atea ASA.  Shares were purchased from Atea’s treasury share holdings at a share price of NOK 133.49 per share, corresponding to the volume-weighted average share price on August 7, 2023. The cost of the shares will be deducted from the employees’ after-tax salary in August, September and October 2023. After the transaction, Atea ASA holds 1,335,101 of its own shares.

The following primary insiders have acquired ATEA shares on August 8, 2023 under the Atea Share Savings Program.

Eugenie Bakous (employee Deputy Board member) purchased 22 shares under the program. After the transaction, the primary insider holds 22 shares and 11 RSUs in the Company.

Arunas Bartusevicius (Managing Director, Atea Baltics) purchased 26 shares under the Program. After the transaction, the primary insider holds 100,235 shares, 280,000 options and 20 RSUs in the Company.

Truls Berntsen (employee Deputy Board member) purchased 22 shares under the program. After the transaction, the primary insider holds 35 shares, 6,000 options and 18 RSUs in the Company.

Arild Fevang (employee Deputy Board member) purchased 22 shares under the program. After the transaction, the primary insider holds 235 shares and 18 RSUs in the Company.

Kathrine Forsberg (Managing Director, Atea Denmark) purchased 23 shares under the Program. After the transaction, the primary insider holds 38 shares, 240,000 options and 19 RSUs in the Company.

Robert Giori (Group CFO) purchased 22 shares under the Program. After the transaction, the primary insider holds 126,822 shares, 475,000 options and 18 RSUs in the Company. The shareholding includes shares held by close associates and through his holding company Four Leaf Clover AS.

Marius Hole (employee Board member) purchased 22 shares under the Program. After the transaction, the primary insider holds 35 shares and 18 RSUs in the Company.

Carl-Johan Hultenheim (Group COO) purchased 22 shares under the Program. After the transaction, the primary insider holds 14,035 shares, 575,000 options and 17 RSUs in the Company.

Leiv Jarle Larsen (employee Board member) purchased 22 shares under the Program. After the transaction, the primary insider holds 35 shares and 18 RSUs in the Company.

Ole Petter Saxrud (Managing Director, Atea Norway) purchased 22 shares under the Program. After the transaction, the primary insider holds 1,535 shares, 185,000 options and 18 RSUs in the Company.

Juha Sihvonen (Managing Director, Atea Finland) purchased 26 shares under the Program. After the transaction, the primary insider holds 41 shares, 400,000 options and 20 RSUs in the Company.

Steinar Sønsteby (Group CEO) purchased 22 shares under the Program. After the transaction, the primary insider holds 125,035 shares, 1,291,307 options and 18 RSUs in the Company. The shareholding includes shares held through his holding company SS Holding AS.  

Marianne Urdahl (employee Deputy Board member) purchased 22 shares under the program. After the transaction, the primary insider holds 802 shares and 18 RSUs in the Company.

Linus Wallin (Managing Director, Atea Sweden) purchased 22 shares in Atea ASA. After the transaction, the primary insider holds 35 shares, 285,000 options and 17 RSUs in the Company.

For further information, please contact: 
Robert Giori, CFO Atea ASA, mobile +47 934 09 188
Ole Johan Fjellestad, Group Chief Accountant, mobile +47 992 74 829