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Eimskip: Allocation of share options
The Board of Directors of Eimskipafélag Íslands hf. decided today to allocate share options to certain key employees of the company globally amounting to 1,090,620 shares, which constitutes 0.62% of Eimskip's share capital when the share option plan was approved. Thereof 486,180 share options were allocated to the CEO and Executive Management and the respective agreements signed today.
The share option plan sets forth a long-term incentive program intended to align the interests of the CEO, Executive Management and other key employees of the company, on one hand, and its shareholders, on the other hand, with a system which takes capital costs into account and adjusts for dividend payments, and as such seeks the equality of share option holders and shareholders. The terms and conditions of the share option agreements are in line with the share option plan approved at the Company's Annual General Meeting on 17 March 2022 and the Company's Remuneration Policy.
The main content of the share option agreements is as follows:
Following the allocation of the share options the total outstanding share options which Eimskip has allocated to key employees is 2,628,000 or around 1.5% of the Company's share capital at the time when the share option program was approved. The Board of Directors is authorized to issue up to 2,628,000 as total number of share options.
The total cost, according to the Black & Scholes model, regarding the share option agreements hereby announced is estimated to be ISK 36.5 million over next six years.
See attachments for information on share options allocated to the members of the Executive Management.
Attachments
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti