Zwipe’s board of directors has resolved to issue options to primary insiders
OSLO, NORWAY – 2 June 2021 – In accordance with the mandate given at Zwipe AS’s annual general meeting on 19 May 2021 to the board of directors (“the Board”) to issue new options to the company’s employees under the company's existing long-term incentive program, the Board has resolved to issue 220,000 new share options to primary insiders.
The strike price was set at NOK 30.13 in accordance with established principles in the program.
The following primary insiders in the Company have been granted additional share options by the Board:
- André Løvestam (CEO) has been granted 50,000 share options in the Company,
following which he holds in total 690,000 share options - Bishwajit Choudhary (EVP Financial Institutions & Alliances) has been granted 60,000 share options in the Company, following which he holds in total 150,000 share options
- Eric Mercer (COO) has been granted 50,000 share options in the Company,
following which he holds in total 150,000 share options - Dr. Robert Mueller (CTO) has been granted 30,000 share options in the Company,
following which he holds in total 150,000 share options - John Goodale (CCO) has been granted 30,000 share options in the Company,
following which he holds in total 110,000 share options
The existing share-based incentive program covers employees and members of the Board. Each option gives the holder the right to acquire one share from the company at a strike price defined in the individual share option agreement. All options are conditional that the grantee remains employed. All vested options may be exercised in any period prior to the expiry date. The options vest every 6 months over 3 years from grant date and may be exercised at vesting. The share-based incentive program is dedicated for allocation to company management and employees, whereby they may be offered the opportunity of participating in a value growth in company shares. This is expected to lead to an increase in interest in the company’s value development.
Until the AGM in 2022, the Board is authorized to issue up to 2,306,319 options, of which a total of 1,911,000 options have now been issued.
Primary insider notifications pursuant to article 19 of the market abuse regulation are linked to from the document:
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This information is subject to the disclosure requirements in Regulation EU 596/2014 article 19 number 3 and the Norwegian Securities Trading Act § 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 23:30 2 June 2021.
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
