Share savings scheme 2021 for employees of the Gjensidige Group and subscription from primary insider employees
The Board of Gjensidige Forsikring ASA has decided to continue the share savings scheme for employees. Through the scheme, the company offers employees of the company, its branches in Denmark and Sweden and subsidiaries in Norway to buy shares in the company. The purpose of the scheme is to increase interest among employees for the company's goals and performance through owning shares. The scheme is also part of the company's strategy of motivating, rewarding and retaining employees. The Board wishes the scheme to become a permanent part of the company's employee incentive scheme. The general meeting will nevertheless consider the acquisition of shares every year and thereby decide whether to continue the scheme.
The offer
For 2021, the company will offer a share savings scheme based on a maximum annual savings amount (NOK/SEK/DKK 90,000) that is financed by a monthly deduction from salary. The company will contribute with 25 per cent of the agreed yearly amount invested, limited upwards to NOK 7,500 per year. After two years of ownership, and provided the person is still employed with Gjensidige, the company will allocate one bonus share for every fourth share bought in connection with this offer. The purchase of shares will take place through DNB on the day or days following publication of the interim accounts. The first purchase will take place after the publication of the 1st quarter 2021 interim report. The purchase price and the number of shares acquired by the company will be reported in accordance with the applicable regulations. Employees will be allocated shares at the purchase price, adjusted for the discount.
Subscription by employees that are primary insiders
Attached to this release is a list of employees that are primary insiders and that have subscribed in the Share savings scheme for 2021. The subscribed amount disclosed is the total amount for 2021. The purchase price and the number of shares will be reported each time allocation has been made.
Background
At the annual general meeting on 25 May 2020, the general meeting authorised the Board to acquire shares on behalf of the company. Shares purchased in accordance with the authorisation can, among other things, be used for sale and transfer to employees of the Gjensidige Group as part of the Group's share savings scheme as approved by the Board, or to executive employees in accordance with the remuneration regulations and the pay policy adopted by the Board. The authorisation is valid until the next annual general meeting, however no longer than until 30 June 2021.
This information is subject to disclosure under the Norwegian Securities Act section §5-12.
Contact details, Gjensidige Forsikring ASA:
Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631
Head of Communication: Øystein Thoresen, Tel: +47 952 33 382