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

Horten, 01 September 2023 - In accordance with the authorisation granted by the Annual General Meeting on 24 May 2023 new share option agreements have been issued today.

The offer is made to provide the Company's employees and consultants with new long-term incentives in order to contribute to positive development of the Company.

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 over 3 years;

  · Exercisable 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 12.15 based on volume weighted average price (VWAP) the last two weeks prior to grant date.

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 400,000 new share options and holds:

  · 812,100 share options with a strike price of NOK 10 per option all exercisable

  · 157,215 share options with a strike price of NOK 3.78 per option all exercisable

  · 157,215 share options with a strike price of NOK 5.40 per option all exercisable

  · 157,215 share options with a strike price of NOK 6.75 per option all exercisable

  · 400,000 share options with a strike price of NOK 14.98 per option all exercisable

  · 400,000 share options with a strike price of NOK 12.15 per option with a vesting period of three years from September 2023.

  · The total holding of Øyvind Isaksen is 155,183 shares (held through OiMaCon AS) and 2,072,634 share options.

Pierre Craen, CTO, has been granted 100,000 new share options and holds:

  · 152,000 share options with a strike price of NOK 10 per option all exercisable

  · 12,780 share options with a strike price of NOK 5.40 per option all exercisable

  · 38,335 share options with a strike price of NOK 6.75 per option all exercisable

  · 104,514 share options with a strike price of NOK 14.98 per option all exercisable

  · 100,000 share options with a strike price of NOK 12.15 per option with a vesting period of three years from September 2023.

  · The total holding of Pierre Craen is 6,992 shares and 407,629 share options.

Marianne Sandal, COO, has been granted 100,000 new share options and holds:

  · 200,000 share options with a strike price of NOK 10 per option all exercisable

  · 12,780 share options with a strike price of NOK 5.40 per option all exercisable

  · 38,335 share options with a strike price of NOK 6.75 per option all exercisable

  · 104,514 share options with a strike price of NOK 14.98 per option all exercisable

  · 100,000 share options with a strike price of NOK 12.15 per option with a vesting period of three years from September 2023.

  · The total holding of Marianne Sandal is 16,650 shares and 455,629 share options.

Alf Henning Bekkevik, CFO, has been granted 100,000 new share options and holds:

  · 200,000 share options with a strike price of NOK 10 per option all exercisable

  · 12,780 share options with a strike price of NOK 5.40 per option all exercisable

  · 38,335 share options with a strike price of NOK 6.75 per option all exercisable

  · 100,000 share options with a strike price of NOK 12.15 per option with a vesting period of three years from September 2023.

  · The total holding of Alf Henning Bekkevik is 21,096 shares and 351,115 share options.

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

Further information from:

Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98
 

About poLight ASA

poLight ASA (OSE: PLT) offers a patented, proprietary tunable optics technology, starting with its first product, TLens® which replicates “the human eye” experience in autofocus cameras used in devices such as smartphones, wearables, barcode scanners, machine vision systems and various medical equipment. poLight's TLens® enables better system performance and new user experiences due to benefits such as extremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view. poLight is based in Horten, Norway, with employees in Finland, France, UK, US, China, Taiwan, and the Philippines. For more information, please visit https://www.polight.com