Grant of employee share options in Kongsberg Automotive Holding ASA ("KA").
On 10 April KA employees were granted 3.850.000 share options, of which 1.390.000 to primary insiders.
The options were granted on terms resolved by the General Annual Meeting of KA on 5 June 2012:
- The number of options to be granted is limited to 4.500.000.
- Each option corresponds to one share.
- The strike price is NOK 1,50.
- Up to 1/3 of of the options may be exercised in 2014, 2015 and 2016 respectively at the earliest. The options will expire after 7 years.
- Each optionee has to hold a number of shares amounting to at least 10 % of the optionee’s total number of options under all share option programs.
- If an optionee’s employment with KA terminates, the optionee’s options will be terminated.