Release of employee restricted share units
1. Participants in the Company's RSU program have on April 27th 2018 settled 75 225 RSU's. Following the release, 75 225 shares will be transferred from the Company's holding of own shares. Subsequent to the transaction Otello Corporation ASA holds 8 974 775 own shares.
2. Restricted share units released by primary insiders April 27th 2018:
Lars Boilesen has received 45 928 shares in the Company.
Thomas Bullen has received 1 260 shares in the Company.
3. Sale of shares
When the participants receive the shares they will be subject to pay salary tax on the total value of the shares received. In order to cover the taxes the employees must at minimum sell a predetermined rate of the shares set by Otello.
On April 27th 2018 the primary insiders mentioned below ordered for the received shares to be immediately sold by a third party.
Lars Boilesen has sold 25 024 shares to cover taxes.
Thomas Bullen has sold 431 shares to cover taxes.
The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. The payment has been determined based on a selling price of NOK 19.1903 per share.
4. New holding
After completion of the abovementioned transactions, Lars Boilesen holds 14 742 RSUs in the Company. In addition, Lars Boilesen holds 1 200 000 unexercised options in the Company. As of today the primary insider holds 216 738 shares in the Company.
After completion of the abovementioned transactions, Thomas Bullen holds 0 RSUs in the Company. In addition, Thomas Bullen holds 50 000 unexercised options in the Company. As of today the primary insider holds 2 493 shares in the Company.
Petter Lade, CFO
Phone: +47 911 43 878
E-mail: petterl@otellocorp.com
About Otello: Otello holds shares in several different businesses, including AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion; Apps and Games (Bemobi); "Performance & Privacy" (Skyfire); and Connected TV (Vewd).