poLight ASA - Amendments to share option plan - grant of share options to primary insiders

Horten, 28 June 2019

In accordance with the authorisation granted by the Annual General Meeting on 28 May 2019 new share option agreements have been approved by the Board of Directors and issued today. The offer is made to provide the Company's employees with new long-term incentives in order to contribute to further growth for the Company. If all employees accept the offer, the Company will issue 219,330 new share options.

The main terms of the new share options are as set out below:

-        Each share option gives the right to require issuance of one new share in the Company;

-        The options vest (becomes exercisable) in equal parts with 1/36 each month over 3 years;

-        Vested options may be exercised during certain exercise periods to be determined by the Board of Directors from time to time;

-        Any vested options that are not exercised during an exercise period will be transferred to the subsequent exercise period;

-        The options expire 5 years after their grant. Following such date, the options are void and cancelled;

-          If an offeror becomes the owner of at least 9/10 of the issued shares of the Company, all of the employee's unvested Options shall become immediately vested; and

-        The strike price for each option is;

  •  NOK 18.90 for options vested first year
  •  NOK 27.00 for options vested second year
  •  NOK 33.75 for options vested third year

As of today, the following primary insiders have accepted the offer and holds share options as further described below:

-        Øyvind Isaksen, CEO, has been granted 94,330 new share options and holds

  •  162,420 share options with a strike price of NOK 50 per option with a vesting period of three years from October 2018.
  •  31 443 share options with a strike price of NOK 18.90 per option with vesting period June 2019 – May 2020
  •  31 443 share options with a strike price of NOK 27.00 per option with vesting period June 2020 – May 2021
  •  31 443 share options with a strike price of NOK 33.75 per option with vesting period June 2021 – May 2022
  •  The total holding of Øyvind Isaksen is 24,856 shares (held through OiMaCon AS) and 256,750 share options.

-        Alf Henning Bekkevik, CFO, has been granted 23,000 new share options and holds

  •  40,000 share options with a strike price of NOK 50 per option with a vesting period of three years from October 2018.
  •  7 667 share options with a strike price of NOK 18.90 per option with vesting period June 2019 – May 2020
  •  7 667 share options with a strike price of NOK 27.00 per option with vesting period June 2020 – May 2021
  •  7 667 share options with a strike price of NOK 33.75 per option with vesting period June 2021 – May 2022
  •  The total holding of Alf Henning Bekkevik is 3,379 shares and 63,000 share options.

-        Pierre Craen, CTO, has been granted 23,000 new share options and holds

  •  40,000 share options with a strike price of NOK 50 per option with a vesting period of three years from October 2018.
  •  7 667 share options with a strike price of NOK 18.90 per option with vesting period June 2019 – May 2020
  •  7 667 share options with a strike price of NOK 27.00 per option with vesting period June 2020 – May 2021
  •  7 667 share options with a strike price of NOK 33.75 per option with vesting period June 2021 – May 2022
  •  The total holding of Pierre Craen is 1,120 shares and 63,000 share options.

-        Marianne Sandal, COO, has been granted 23,000 new share options and holds

  •  40,000 share options with a strike price of NOK 50 per option with a vesting period of three years from October 2018.
  •  7 667 share options with a strike price of NOK 18.90 per option with vesting period June 2019 – May 2020
  •  7 667 share options with a strike price of NOK 27.00 per option with vesting period June 2020 – May 2021
  •  7 667 share options with a strike price of NOK 33.75 per option with vesting period June 2021 – May 2022
  •  The total holding of Marianne Sandal is 2,667 shares and 63,000 share options.

Enquiries

Eivind Bergsmyr, Chairman of poLight, +47 920 99 010

Øyvind Isaksen, CEO of poLight, + 47 908 76 398

This information is subject to the disclosure requirements pursuant to sections 4-2 and 5-12 of the Norwegian Securities Trading Act.

About poLight ASA

poLight has developed a new autofocus lens which "replicates" the human eye for use in mobile devices and other applications with integrated cameras. poLight's TLens® is ready for introduction in the smartphone camera module market, offering considerable benefits such as extremely fast focus, compact xy -dimension (i.e. small footprint), no electromagnetic interference, low power consumption and constant field of view. poLight is based in Horten, Norway, with offices in Finland, France and China and representation in Taiwan and Korea. For more information visit www.polight.com.

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