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BEWI – New long-term incentive programme and mandatory notifications

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The board of directors of BEWI ASA has approved a new long-term incentive (LTI) programme for the company. The programme is established to align the interests of the participating employees with those of the company's shareholders. This year is the first annual award under this LTI programme, which is based on a similar programme established in November 2020. The board has an authorisation from the company’s general meeting to buy back shares for the LTI programme.

The LTI programme is discretionary, and participants are invited on an annual basis. The total number of options awarded under the LTI programme for 2024 is 1 233 329. Each option gives the holder the right to acquire one BEWI share. Maximum profit gain per exercised option is NOK 50.

The strike price of the options is calculated based on the volume-weighted average share price ten (10) trading days prior to grant date, plus a premium of 10 per cent. The strike price for the options awarded on 15 November 2024 is NOK 25.57. The options will have a vesting period of three years, of which 20 per cent of the options vest on 15 November 2025, 30 per cent on 15 November 2026, and 50 per cent on 15 November 2027. The options expire after 5 years, i.e., on 15 November 2029. Exercise windows will be set by the board of directors.

Following the new awards, BEWI will have a total of 3 201 281 outstanding options, of which 1 967 952 options are related to the share option program established on 1 November 2020 with expiry 1 November 2025.

The following primary insiders (PDMRs) of BEWI have been awarded options under the new LTI program:

  • Chief Executive Officer Christan Bekken has been awarded 83 333 options
  • Chief Financial Officer Marie Danielsson has been awarded 83 333 options
  • Chief Operations Officer Upstream Jonas Siljeskär has been awarded 83 333 options
  • Chief Operations Officer Downstream Karl Erik Olesen has been awarded 83 333 options
  • Chief Legal Officer Petra Brantmark has been awarded 83 333 options
  • Chief Strategy Officer Stein Inge Liasjø has been awarded 83 333 options

Contacts:

Charlotte Knudsen, Chief Communications and Investor Relations Officer, tel. +47 9756 1959

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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