Marine Harvest ASA (OSE: MHG): Exercise of senior executive share options/purchase of own shares

Bergen, NORWAY


Number of options exercised

The Board of Directors of Marine Harvest awarded 1.3 million options under its senior executive share option scheme with effect from 2014 to the current participants in the option scheme. The option scheme form an important part of Marine Harvest's long term remuneration policy for such senior executives. The number of options shall be reduced if the profit through exercise of options in a year exceeds two times the fixed annual salary of the option holder. Accordingly, the number of options has been reduced to 717,815 options to comply with this provision.

On 25 June 2018, participants in Marine Harvest's senior executive share option scheme exercised 717,815 options in Marine Harvest, corresponding to 717,815 shares at a strike price of NOK 69.04 per share. 

On the same date Marine Harvest purchased 717,815 own shares at a price of NOK 163.34 per share to settle its obligation to deliver the shares. The shares were purchased in accordance with the authorisation granted at the annual general meeting on 30 May 2018. Following these transactions Marine Harvest still holds zero treasury shares.

Options exercised by primary insiders

Alf-Helge Aarskog exercised 122,317 options in Marine Harvest, corresponding to
122,317 shares at a strike price of NOK 69.04 per share.

Ivan Vindheim exercised 69,399 options in Marine Harvest, corresponding to
69,399 shares at a strike price of NOK 69.04 per share.

Marit Solberg exercised 59,376 options in Marine Harvest, corresponding to
59,376 shares at a strike price of NOK 69.04 per share.

Per-Roar Gjerde exercised 53,879 options in Marine Harvest, corresponding to
53,879 shares at a strike price of NOK 69.04 per share.

Ola Brattvoll exercised 50,957 options in Marine Harvest, corresponding to
50,957 shares at a strike price of NOK 69.04 per share.

Ben Hadfield exercised 53,712 options in Marine Harvest, corresponding to
53,712 shares at a strike price of NOK 69.04 per share.

Transfer of rights

On 25 June 2018 the primary insiders listed above transferred their rights to receive shares resulting from the exercise of their options to a third party against a consideration to be determined on the basis of the price subsequently obtained by the third party when selling the shares. The price subsequently obtained was NOK 163.34 per share.

New holding

After exercising the options the primary insiders listed above hold the following number of shares and unexercised options in Marine Harvest:

Name Title Shares   Total unexercised
        options
Alf-Helge Aarskog CEO 38 876   1 786 564
Ivan Vindheim CFO 966   447 475
Marit Solberg COO Farming 13 119   347 475
Per-Roar Gjerde COO Farming 629   325 879
Ola Brattvoll COO Sales & Marketing 9 537   447 475
Ben Hadfield COO Fish Feed 7 176   447 475

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