SpareBank 1 SR-Bank ASA (SRBANK); Mandatory notification of trade
SpareBank 1 SR-Bank ASA has on March 23 granted a total of 130.886 own shares to employees as a part of the bank's incentive scheme. The distribution of 33.604 shares are granted to primary insiders divided into 15 502 shares at a price of NOK 55.00 and 18 102 shares at a volume weighed average price of NOK 52.86. In total 97.282 shares are granted other employees divided into 56 878 shares at a price of NOK 55.00 and 40 404 shares at volume weighed average price of NOK 52.86. SpareBank 1 SR-Bank has as a consequence of this reduced its holding of own shares to 10 425 shares. Based on the achievements in 2019 and previous years the primary insiders have been allocated shares, according to the attached list.
It should be noted that the group executive management team and other leading personnel covered by the Financial Institutions Regulations' provisions concerning the remuneration of executive personnel, the distribution principle for shares was changed as of the financial year of 2018. For previous financial years, shares have been distributed in 1/3 allocations for the following 3 years. As of the financial year of 2018, all shares will be issued in the subsequent year, with a tie-in period of 1, 2 and 3 years respectively. For further information about current bonus schemes, please refer to the notes in the annual report for 2019.
Stavanger, March 23 2020
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.