Norsk Hydro: Primary insiders purchase shares under Long Term Incentive program and shares to employees

Mittwoch, 01.04.2020 08:00 von GlobeNewswire - Aufrufe: 304

Long-Term Incentive plan
Norsk Hydro ASA has a share-based Long-Term Incentive (LTI) in the form of a remuneration of 30 percent of annual base salary for the President and CEO and the other members of the Corporate Management Board. The LTI payment requires that Hydro had a positive underlying EBIT in the previous year and is based partly on a) Average of the past three years' return on capital employed (RoaCE), measured against the company's internal return target, b) Total shareholder return (TSR) measured against a weighted average of TSR for comparable companies. The participants will be required to invest the net amount after tax in Hydro shares and such shares must be held for at least three years.

See list below of primary insiders that on March 31, 2020, have acquired Hydro shares under the LTI plan at NOK 29.62 per share. A total of 43 238 shares have been sold by Hydro to the participants in the LTI plan. Norsk Hydro ASA holds 21 306 248 own shares after these transactions and the number of outstanding shares are 2 047 692 028.

Sale of shares to employees
Primary insiders in Hydro have also agreed to purchase shares under a general arrangement offered to Hydro employees in Norway each year.

Hydro employees in Norway have been offered to purchase shares valued at NOK 12,500, with a 50 percent discount. For employees taking part in this arrangement, the share price before discount is NOK 29.62 per share, for 422 shares, and will be transferred during April 2020.

The following primary insiders have purchased shares under the long-term incentive program and agreed to purchase shares under the employee share plan:

Name  Acquired shares LTI plan   Shares agreed to be acquired under employee share plan  New holding
President and CEO Hilde Merete Aasheim    7 363   422   119 946
Executive Vice President and CFO Pål Kildemo   1 436   422   13 060
Executive Vice President Head of Bauxite & Alumina John Thuestad   7 419   422   58 043
Executive Vice President Energy & Corporate Development Arvid Moss   4 313   422   173 043
Executive Vice President Primary Metal Eivind Kallevik    4 783   422   72 849
Executive Vice President Rolled Products Einar Glomnes   2 814   422   17 692
Executive Vice President Extruded Solutions Egil Hogna   7 306   422   63 470
Executive Vice President Legal & Compliance Anne-Lene Midseim   3 451   422   33 735
Executive Vice President Communication & Public Affairs Inger Sethov   3 165   422   38 125
Executive Vice President People & HSE Hilde Nordh   1 188  844*   24 597
Employee representative to the Board of Directors Arve Baade  -   422   5 130
Employee representative to the Board of Directors Svein Kåre Sund  -   422   6 434
Employee representative to the Board of Directors Sten Roar Martinsen  -    422   6 869
Observer to the Board of Directors Tor Egil Skulstad  -   422   1 226

*Including shares agreed to be acquired under the employee share plan by close relative

Investor contact
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle@hydro.com

Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland@hydro.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

 

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