Oslo, Norway -- Elliptic Labs (OSE: ELABS), a global AI software company and
leader in Virtual Smart Sensors, announces the grant of share options to
eligible employees and primary insiders following the publication of the
Company's Q1 2025 report.
The Board of Directors has resolved to grant a total of 1,319,500 share
options (equivalent to approximately 1.17% of the fully diluted share capital)
to eligible employees who have been with the company since before 1st October
2024. These options entitle holders to acquire shares at a strike price of NOK
11.422 per share, calculated as the volume-weighted average price (VWAP) over
the last 30 days prior to the grant. The grant date is 22nd May 2025, and the
options must be exercised no later than 31st December 2029.
Vesting Schedule:
* One-third on 31st December 2025
* One-third on 31st December 2026
* One-third on 31st December 2027
Grant of Share Options to Primary Insiders
In accordance with the Company's long-term incentive plan and remuneration
guidelines, the Board has also granted options to primary insiders on the same
terms as above (strike price NOK 11.422 per share, grant date 22nd May 2025,
and expiry 31st December 2029), vesting equally over three years.
Overview of Primary Insiders Granted Options:
* Laila Danielsen (Chief Executive Officer): 300,000 options.
Following the grant, Ms. Danielsen holds 4,374,150 shares and 1,060,000
options in the Company.
* Lars Holmøy (Chief Financial Officer): 110,000 options.
Following the grant, Mr. Holmøy holds 57,420 shares and 1,302,500 options in
the Company.
* Espen Klovning (EVP of Engineering): 325,000 options.
Following the grant, Mr. Klovning holds 174,670 shares and 835,000 options in
the Company.
* Brian Daly (EVP Sales & Business Development): 125,000 options.
Following the grant, Mr. Daly holds 885,000 options in the Company.
With this grant, the total number of options outstanding in the Company now
permits employees and management to potentially acquire up to 7,338,239 shares
in aggregate, corresponding to approximately 6.51% of the fully diluted share
capital.
For further information, please contact:
Contacts
Investor Relations:
Lars Holmøy
Lars.Holmoy@ellipticlabs.com
PR Contact:
Patrick Tsui
pr@ellipticlabs.com
About Elliptic Labs
Elliptic Labs' AI Virtual Smart Sensor PlatformTM brings contextual
intelligence to devices, enhancing user experiences. Our technology uses
proprietary deep neural networks to create AI-powered Virtual Smart Sensors
that improve personalization, privacy, and productivity.
Currently deployed in over 500 million devices, our platform works across all
devices, operating systems, platforms, and applications. By utilizing
system-level telemetry data to cloud-based Large Language Models (LLMs), the
AI Virtual Smart Sensor Platform delivers the unrivaled capability to utilize
output data from every available data source. This approach allows devices to
better understand and respond to their environment, making technology more
intuitive and user-friendly. At Elliptic Labs, we're not just adapting to the
future of technology -- we're actively shaping it. Our goal is to continue
pushing the boundaries of contextual intelligence, creating more intuitive and
powerful experiences for users worldwide.
Elliptic Labs is headquartered in Norway with presence in the USA, China,
South-Korea, Taiwan, and Japan. The company is listed on the Oslo Stock
Exchange. Its technology and IP are developed in Norway and are solely owned
by the company.
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-05-22 18:30 CEST.