Nordic Nanovector ASA: Allocation of restricted stock unites (RSUs) to the board of directors
Oslo, Norway, 10 May 2019
Reference is made to the minutes from Nordic Nanovector ASA's (the "Company") (OSE: NANO) annual general meeting held on 25 April 2019 in Oslo, Norway (the "AGM").
At the AGM, the shareholders approved the issuance of restricted stock units ("RSUs") to board members who elect to receive all or parts of their remuneration, for the period from the annual general meeting in 2019 to the annual general meeting in 2020, in the form of RSUs.
The RSUs are non-transferable and each RSU give the right and obligation to acquire one share in the Company at a price of NOK 0.20 per share (corresponding to the nominal value of the share) subject to satisfaction of the applicable vesting conditions stated in the RSU agreements.
The board members may elect to either (i) receive 100% of the compensation in RSUs, (ii) receive 1/3 of the compensation in cash and 2/3 in RSUs, or (iii) receive 2/3 of the compensation in cash and 1/3 in RSUs. The election made by each board member has been set out in the table below. The number of RSUs to be granted to the members of the Board of Directors is calculated as the NOK amount of the RSU opted portion of total compensation to the board member, divided by the market price for the Nordic Nanovector share. The market price is calculated as volume weighted average share price 10 trading days prior to the date of the AGM, i.e. NOK 45.76.
Pursuant to the RSU program, the board members have made the following election and hold the following number of RSUs and shares following such election:
| Name | Remuneration for the period 2019-2020 | Allocation between cash and RSUs | Number of RSUs for the period 2019-2020 | Total number of RSUs | Total number of shares |
| Jan H. Egberts 1) | NOK 540 000 | 2/3 RSUs | 7 867 | 7 867 | 0 |
| Per Samuelsson 2) | NOK 360 000 | 100% Cash 3) | 0 | 0 | 0 |
| Hilde H.Steineger 4) | NOK 360 000 | 2/3 RSUs | 5 245 | 20 778 | 750 |
| Gisela Schwab 5) | NOK 320 000 | 1/3 RSUs | 2 331 | 8 063 | 10 000 |
| Joanna Horobin 6) | NOK 340 000 | 2/3 RSUs | 4 953 | 9 025 | 4 785 |
| Jean-Pierre Bizzari 7) | NOK 340 000 | 1/3 RSUs | 2 477 | 4 513 | 4 509 |
| Rainer Boehm 8) | NOK 320 000 | 1/3 RSUs | 2 331 | 5 902 | 0 |
1. NOK 500 000 as chairman of the Board, NOK 20 000 as a member of the audit committee and NOK 20 000 as a member of the compensation committee.
2. NOK 300 000 as board member, NOK 40 000 as chair of the compensation committee and NOK 20 000 as a member of the audit committee.
3. Per Samuelsson is not allowed to hold equity in the company due to his affiliation with HealthCap and will only receive cash.
4. NOK 300 000 as board member, NOK 40 000 as chair of the audit committee and NOK 20 000 as a member of the compensation committee.
5. NOK 300 000 as board member and NOK 20 000 as member of the clinical committee.
6. NOK 300 000 as board member, NOK 20 000 as member of the clinical committee and NOK 20 000 as member of the compensation committee.
7. NOK 300 000 as board member and NOK 40 000 as chair of the clinical committee.
8. NOK 300 000 as board member and NOK 20 000 as member of the clinical committee.
A total of 25 204 RSUs have thus been allocated following the AGM. The RSUs will vest on 25 April 2020. For further information about the RSU Program see section 6.3.2 to the Company’s financial statements for 2018, included in the Company’s annual report for 2018 on page 85.
For further information, please contact:
Malene Brondberg, VP Investor Relations and Corporate Communications
Cell: +44 7561 431 762
Email: ir@nordicnanovector.com
About Nordic Nanovector
Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers.
Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting radioimmunotherapy designed to advance the treatment of non-Hodgkin's lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 29 billion by 2026. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets.
Further information can be found at www.nordicnanovector.com
This information is subject to duty of disclosure pursuant to Section 4-2 of the Norwegian Securities Trading Act and section 3.2 of the continuing obligations for listed companies
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