The board of directors of Icelandair Group Holding hf. (ICEAIR) has decided on the basis of the company's stock option scheme to grant stock options on shares in the company to its senior management. The options that are valid for three years come into effect today. Options to buy a total of 45,3 million shares are granted to a total of 17 senior managers, including the CEO, vice presidents and managing directors of subsidiaries. Stock option holders are entitled to exercise one third of their stock option for 4 weeks, starting January 3rd each year, starting in 2008. The option has an exercise price of ISK 27,50 per share, which is the weighted average closing price on the Iceland Stock Exchange during the last ten trading days, cf. article 10 of Act 90/2003 on Income Tax. The stock option is primarily subject to the condition of the employee's continued employment within the group. Stock options totalling 5,0 million shares are granted to the following primary insider who are obliged to disclose their transactions, cf. Art 64 of Act no. 33/2003. Name of primary insider: Jón Karl Ólafsson Primary insiders relation to issuer : CEO Shares according to stock option plan 2006 5.000.000 Primary insider's holding: 103,703 shares Related parties holding: 18,518,519 shares
The Board of directors of ICEAIR issues stock options for senior management
| Source: Icelandair Group hf.