On April 20th, 2023 The Annual General Meeting of Nordic Semiconductor ASA approved the issue Restricted Stock Units (RSUs) and Performance Shares (PSUs) of an aggregate nominal value of up to 1% of the company’s outstanding share capital. On March 20th, 2024, 903,000 RSUs and Performance Shares have been granted, equivalent to 0.47% of the company’s outstanding share capital.
The Board of Directors has approved the grant, aimed at retaining and motivating employees following a challenging year of cost optimization initiatives. The grant covers all employees, with the exception of the executive management team.
The RSUs are set to vest in May 2025 and the shares will be delivered to the employee at the vesting date against payment of the par value of the share (contingent upon the employee's continued employment with the Company). The shares may be newly issued shares or existing treasury shares.
The PSUs are issued conditional upon the achievement of a certain set of predefined objectives. The PSUs vest and will be delivered against payment of the par value of the share upon the completion of the performance period, which is until May 2025. If the target achievement is 100% or above, 100% of the shares will be granted.
Achievement of the set revenue objectives that fall between the target and 0 will result in a payout calculated by linear interpolation. For other specified performance targets, payouts will be determined based on a comprehensive evaluation of the achievement of the deliverables. However, regardless of performance, the maximum payout is capped at 100%.
For further information, please contact:
Pål Elstad, CFO Nordic Semiconductor ASA Phone: +47 991 66 293
Ståle Ytterdal, SVP IR Nordic Semiconductor ASA Phone: +47 930 37 430
About Nordic Semiconductor:
Nordic Semiconductor is a Norwegian fabless semiconductor company specializing in wireless communication technology that powers the Internet of Things (IoT). Nordic was established in 1983 and has more than 1500 employees across the globe. Our award-winning Bluetooth Low Energy solutions pioneered ultra-low power wireless, making us the global market leader. Our technology range was later supplemented by ANT+, Thread and Zigbee, and in 2018 we launched our low power, compact LTE-M/NB-IoT cellular IoT solutions to extend the penetration of the IoT. The Nordic portfolio was further complemented by Wi-Fi technology in 2021.
For more information go to www.nordicsemi.com
This information is subject to the disclosure requirements according to §5-12 in the Norwegian Securities Trading Act.