Oslo, 21 April 2022: On the basis of the approval by the General Meeting on 21
April 2022 to authorize the Board of Directors of Ultimovacs ASA (the 'Company',
OSE ticker "ULTI") to issue new shares to employees under a long-term incentive
program, the Board of Directors has resolved to issue share options to employees
in the Company.
A total of 480,000 options for shares in the Company have been distributed
amongst the employees. The number of options granted corresponds to 1.40% of the
outstanding number of shares in the Company. Each option gives the right to
acquire one share in the Company. The options are granted without consideration.
Pursuant to the vesting schedule, 25% of the options will vest one year after
the day of grant, 25% of the options will vest two years after the day of grant
and the remaining 50% will vest three years after the day of grant (vesting is
dependent on the option holder still being employed in the Company).
The exercise price for the options granted is NOK 83.46 per share.
Options that are not exercised within 7 years from the date of grant will lapse
and become void. The option life of all previously granted options in
2019, 2020 and 2021 has also been extended from 5 to 7 years.
No primary insiders in Ultimovacs, being board members and the CEO, received any
option grant in 2022.
For further information, please see www.ultimovacs.com
(http://www.ultimovacs.com) or contact:
Jónas Einarsson, Chair of the Board of Directors of Ultimovacs ASA
Email: je@radforsk.no
Phone: +47 480 96 355
Carlos de Sousa, CEO
Email: carlos.desousa@ultimovacs.com
Phone: +47 908 92507
Anne Worsøe, Head of IR & Communication
Email: anne.worsoe@ultimovacs.com
Phone: +47 906 86815