Oslo, 15 December 2021
The board of directors has today granted a total of 118,956 share options to employees. Each share option gives the right to subscribe for and be allotted one share in Ocean Sun AS. The strike price of the options is set to NOK 15.2 per share, which is a 10% premium over the volume weighted average share price over the five last trading days preceding 15 December 2021. The options will lapse if not exercised by 15 December 2026. The option grant is divided into two tranches whereby 40% vests after two years and 60% vests after three years. Further, the options are capped at three times the strike price. The terms of the options granted are in accordance with the terms presented for Ocean Sun’s extraordinary general meeting held on the 11th of October 2021. Following the grant, the number of outstanding options amounts to 0.26% of the total amount of outstanding shares in Ocean Sun AS.
Of the total grant, the following was granted to primary insider:
• Nenad Keseric, COO, 73 747 options.
About Ocean Sun:
By combining the Norwegian maritime expertise and knowledge within photovoltaics, Ocean Sun has developed an innovation that offers a bold solution to our global energy needs. The patented technology is based on solar modules mounted on hydro-elastic membranes and offers cost and performance benefits not seen in any other floating PV system today. With offices in Oslo, Singapore and Shanghai, Ocean Sun is embarking on its vision to be the world's leading technology provider of floating solar.
For further details, please contact:
Børge Bjørneklett, CEO of Ocean Sun, +47 90195778
Karl Lawenius, CFO of Ocean Sun, +47 45633881