Hexagon Composites ASA: Mandatory notification of trade - provisional award of PSUs
The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has resolved to provisionally award up to 1 734 990 Performance Share Units ("PSUs") to executives.
The PSU allocation is in accordance with the Board of Director's compensation policy for the senior executive management. This policy is described in "Declaration to the Annual General Meeting of Hexagon Composites ASA concerning determination of Salary and other remuneration to the CEO and other Management", which was presented for shareholder approval at the Annual General Meeting on 28 April 2021 (the "AGM"). The PSUs are non-transferable and will vest on 28 February 2024 subject to satisfaction of the applicable vesting conditions.
The actual number of PSUs to be allocated will depend on 2021 and 2022 financial performance and attain minimum zero and maximum 1 734 990. Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10.
The total number of outstanding options, RSUs and PSUs are now 1 636 368, 219 994 and 6 770 206 respectively. Of the maximum 1 734 990 provisionally awarded PSUs, maximum 334 979 PSUs have provisionally been awarded to primary insiders as listed below:
| Primary Insider | Title | Max potential PSU award(1) | Min. award | Holding instruments (options and PSUs) | Holding shares |
| Jon Erik Engeset(2) | President & CEO | 51 675 | 0 | 351 709 | 263 554 |
| David Bandele | CFO | 34 450 | 0 | 155 530 | 155 429 |
| Seung Baik | President Hexagon Agility | 51 675 | 0 | 233 296 | 0 |
| Andrew Griffiths | EVP, CFO Hexagon Agility | 34 450 | 0 | 155 530 | 0 |
| Jack Schimenti | President Digital Wave | 34 450 | 0 | 235 530 | 139 639 |
| George Siedlecki | Senior Vice President Finance North America | 34 450 | 0 | 155 530 | 113 122 |
| Karen Romer | SVP Communications | 25 837 | 0 | 78 941 | 1 800 |
| Heiko Chudzick | EVP Operations | 34 450 | 0 | 155 530 | 80 000 |
| Skjalg S. Stavheim | President Hexagon Ragasco | 34 450 | 0 | 155 530 | 136 406 |
(1) equals total holding of PSU rights. (2) The shares are held by Dionysos AS, a company 100% controlled by Jon Erik Engeset
For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagongroup.com
Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA
Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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