Exercise of share options against cash settlements
Exercise of share options against cash settlements (Oslo, Norway, December 3, 2021) A total of 3,328,334 options granted in accordance with option agreements between the Company and the persons set out below have today been exercised and settled in accordance with the individual option agreements entered with Solon Eiendom ASA (the «Company»). All options exercised will be settled by payment in cash of the value of the options. Hence, no shares in the Company will be issued in connection with today’s exercise of options. The amount paid to each exercising party per option exercised is the difference between NOK 43.80 (average end of day price in the period from 23 to 29 November 2021) and the agreed strike price, multiplied by the number of share options exercised. The following primary insiders in the Company have exercised options today: Andreas Martinussen, CEO, has exercised all his 2,000,000 options, 500,000 to a strike price of NOK 25 and 1,500,000 to a strike price of NOK 30. Following the exercise, Martinussen holds 800,000 shares in the Company through John Galt AS. Ole Halvor Svenkerud, COO, has exercised all his 500,000 options, to a strike price of NOK 36.5. Following the exercise, Svenkerud holds 19,986 shares in the Company. Finn Øistein Nordam, CFO, has exercised all his 500,000 options, to a strike price of NOK 38. Following the exercise, Nordam holds 26,700 shares in the Company. Jannike Nilsen, Legal Director, has exercised all her 25,000 options, to a strike price of NOK 34. Following the exercise, Nilsen holds no shares in the Company. Erik Forseth Helgesen, has exercised all his 15,000 options, to a strike price of NOK 34. Following the exercise, Helgesen holds 1,000 shares in the Company. Rune Schive Hognestad, has exercised 125,000 of his 375,000 options, to a strike price of NOK 27. Following the exercise, Hognestad holds no shares and 250,000 options in the Company. In addition, other non-primary insider employees have exercised a total of 163,334 options at strike prices between NOK 25.10 – 34. A total of 4,135,000 options have been issued by the Company of which the remaining 806,666 options (following the above-mentioned exercise of vested options) will vest and may be exercised by the holders from various dates between today and August 31, 2025. For further information please see the attached forms or contact Finn Øistein Nordam, CFO, telephone +47 982 89 382, e-mail email@example.com. This information is subject to the disclosure requirements in section 5-12 of the Norwegian Securities Trading Act. About the company: Solon Eiendom ASA is a residential property developer that focuses on the Greater Oslo region, other larger cities in Norway and the Stockholm region in Sweden.