SpareBank 1 SR-Bank ASA (SRBANK); Introducing savings programme for employees
The Board of SpareBank 1 SR-Bank has decided to establish an equity savings programme for employees. The purpose of the programme is to motivate employees to become co-owners of the bank and also to raise interest concerning the bank’s strategy and results.
Employees are invited to save a fixed amount per month to buy shares in the bank. Employees who register for the savings programme can choose to subscribe to shares corresponding to either NOK 4,500, NOK 9,000, NOK 18,000 or NOK 27,000 in total for the period from April to December 2019. The savings amount the individual chooses to save in 2019 will be shared equally over 9 months and will be paid through monthly salary deductions. SpareBank 1 SR-Bank will purchase shares on behalf of the employees who take part in the savings programme. The bank will give the employees a 30% discount on the average purchase price. The employees must agree to a 2-year tie-in period for the shares. SpareBank 1 SR-Bank aims to purchase shares in the market each quarter on the day or the days after presentation of the results for the 1st, 2nd and 3rd quarters of 2019 respectively, and in the beginning of December 2019. The purchase price and number of shares acquired by the bank will be reported in accordance with applicable regulations.
See the table below for a summary of the primary insiders at SpareBank 1 SR-Bank who have registered for the 2019 equity savings programme. The amounts stated are the total amounts for 2019 the individual has subscribed for. The number of shares allocated to individual primary insiders under the savings programme will be announced at the times for resale of the shares to the employees.
Name; Registered for amount (NOK);
Arne Austreid 27.000
Ella Skjørestad 27.000
Frode Bø 18.000
Glenn Sæther 27.000
Gro Tveit 27.000
Inge Reinertsen 27.000
Inger Ulrikke Bentsen 27.000
Jan Friestad 27.000
Kjersti Espeset Lie 27.000
Kjetil Skjæveland 27.000
Kristian Kristensen 18.000
Nils Mikal Hegrestad 27.000
Sally Lund-Andersen 18.000
Seri Berge 27.000
Signe Helliesen 27.000
Stian Helgøy 27.000
Thor-Christian Haugland 27.000
Tore Medhus 27.000
Øystein Gilje 27.000
Stavanger, 14 March 2019
Contacts:
Inge Reinertsen, CFO, Tel. +47 909 95 033
Stian Helgøy, Vice President Investor Relations, Tel. +47 906 52 173
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.