0OIR Grant Of Share Options And Performance Shares To Members Of The Board Of Management And Key Employees
25 March 2022 - 3:15AM
UK Regulatory
TIDMALK TIDMB
ALK (ALKB:DC / OMX: ALK B / AKABY / AKBLF):
Share option programme
According to the Company's remuneration policy which was adopted
at the Company's Annual General Meeting on 18 March 2021, in line
with its usual practice, the Board of Directors has passed a
resolution to grant a total of 9,965 share options, comprising
5,002 options to the members of the Board of Management and 4,963
options to a group of key employees. As is the norm, the share
option programme is subject to the fulfilment of financial and
non-financial key indicators with a defined threshold, below which
there would be no payout, and which also offers the opportunity to
perform above target. As in previous years, in case of performance
above target, a defined multiplier is used that can increase the
payout by up to 100%.
The options can be exercised during the period from 1 March 2025
to 1 March 2027 during the trading windows following the release of
annual and interim reports. If the option holders have not
exercised their options within the period specified, the options
will lapse without any compensation to the holders.
Performance share programme
The exercise price of the options has been set at DKK 2,819
each, corresponding to an average of the closing prices of the
Company's shares on Nasdaq Copenhagen during the period 17 to 23
March 2022 (both days included). To this should be added annual
interest at the rate of 2.5%, which will be added the first time on
1 March 2023. The exercise price of the options will be adjusted by
dividends if dividends deviate from DKK 0 per share.
The market value of the adopted option plan of 9,965 options is
approximately DKK 6.7 million applying the Black & Scholes
model for valuation of options. The determination of the value is
based on an assumed exercise price of DKK 3,036, an annual dividend
distribution of DKK 0 per share, a volatility rate of 35% p.a. and
a risk-free interest rate of 0.14% p.a.
Under the international financial reporting standards (IFRS),
the incentive plan will be recognised in the income statement in
the respective functional areas over the vesting period.
Further in line with its usual practice, the Board of Directors
has passed a resolution to grant performance shares in accordance
with the Company's remuneration policy, and which was also adopted
at the Company's Annual General Meeting on 18 March 2021. The
scheme, which is a long-standing component of performance
management at ALK, comprises a total of 7,261 performance shares,
including 1,186 shares to the members of the Board of Management
and 6,075 shares to a group of key employees. The market value of
the performance shares is approximately DKK 20.5 million,
calculated on the basis of an average of the closing prices of the
Company's shares on Nasdaq Copenhagen during the period 17 to 23
March 2022 (both days included).
The final transfer of ownership of the performance shares takes
place three years after the grant (2025), and is subject to the
fulfilment of financial and non-financial key indicators with a
threshold below which there will be no payout, and with the
opportunity to perform above target. In case of performance above
target, a defined multiplier is used that can increase the payout
by up to 100%.
Under the international financial reporting standards (IFRS),
the incentive plan will be recognised in the income statement in
the respective functional areas over the vesting period.
The grant of share options and performance shares does not
change the Company's financial forecast.
No share options or performance shares have been granted to
members of the Board of Directors.
ALK-Abelló A/S
For further information please contact:
Anders Hedegaard, Chairman of the Board of Directors, tel +45
4574 7576
Attachment
-- FM_07_22UK_24032022
https://ml-eu.globenewswire.com/Resource/Download/d0c9f868-788f-4b1a-9288-4bab2f60c846
(END) Dow Jones Newswires
March 24, 2022 12:15 ET (16:15 GMT)
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