Marine Harvest (OSE:MHG): Share option scheme for senior executives and allocation of options 2018

Bergen, NORWAY


At the Company's annual general meeting ("AGM") on 30 May 2018 the Board of Directors was authorised to grant options under the Share Option Scheme for Senior Executives. On 22 June 2018 the Board of Directors granted 1.5 million options with a strike price of NOK 178.1164, corresponding to 107.5% of the volume weighted average share price on the Oslo Stock Exchange at the date of the AGM, to a total of 26 individuals.

The options have a term of 4 years but will become exercisable immediately if a mandatory bid is made for all of the shares in Marine Harvest, if a voluntary offer is followed up with a forced transfer of shares in accordance with the Norwegian Securities Trading Act or if Marine Harvest is the non-surviving entity in a merger with another company.

The number of shares and the strike price will be adjusted for dividends and changes in the equity capital during the term of the option according to the Oslo Stock Exchange's derivative rules and provisions in the option agreements. Total profit through the exercise of the option in a year is capped at two years' salary for the option holder. If the profit exceeds this limit, the number of shares to be issued will be reduced accordingly.

The following primary insiders in the company have been allocated options according to the above and have, following this and adjustments for dividends paid, the following number of shares and options in the company:

  Total number of Options granted Total options
Name shares owned in 2018 Outstanding
Alf-Helge Aarskog
(CEO)
38 876 300 000 2 432 006
Ivan Vindheim
(CFO)
966 100 000 576 563
Per-Roar Gjerde
(COO Farming Norway and Chile)
629 100 000 390 423
Ola Brattvoll
(COO Sales & Marketing)
9 537 100 000 576 563
Ben Hadfield
(COO Fish Feed)
7 176 100 000 576 563
Øyvind Oaland
(Global Director R&D)
4 694 25 000 25 000
Anne Lorgen Riise
(Global Director HR)
664 25 000 25 000
Glenn Flanders
(Chief Strategy Officer)
306 25 000 25 000
Kim Galtung Døsvig
(Investor Relations & Head of Treasury)
442 25 000 25 000

This information is subject to the disclosure requirements pursuant to section 4-2 and 5-12 of the Norwegian Securities Trading Act.