Introduction of a share-based remuneration-programme

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| Source: BankNordik P/F
multilang-release

I accordance with the Bank’s remuneration policy, approved by the general meeting, the Board of Directors of BankNordik has decided to introduce a share-based remuneration programme for the Executive Board – Mr. Janus Petersen, CEO and Mr. John Rajani, Deputy CEO.   

Due to the introduction of the above mentioned share-based remuneration programme, new employment contracts have been made between the company and the Executive Board, which implies that share options becomes part of their total remuneration. The Bank’s total costs related to the remuneration of the Executive Board will not increase by the introduction of the above mentioned share-based remuneration programme.

The allocation of share options is based on calculations made by the independent auditor Deloitte.

The first allocation of share options will be effected on September 1st 2014 where the Executive Board will be granted a total of 46.619 share options at an exercise price of DKK 112,90 pr. share. The exercise price is calculated as the average price of a share in P/F BankNordik the recent 5 trading days prior to the allocation date.

The share options can be exercised in trading windows in the period from 10th August 2018 to 10th December 2018.

BankNordik has reserved own shares corresponding to the outstanding share options comprised by the above mentioned share-based remuneration programme

Please direct any questions regarding this announcement to Klaus Rasmussen, Chairman of the Board of Directors, on tel. (+45) 61 33 72 43.

 

Yours sincerely

BankNordik

Klaus Rasmussen, Chairman of the Board of Directors