Spinnova Plc's Board of Directors has decided to launch a new stock option program 2022 for the company's key personnel. The Board will make separate decisions on the allocation of the stock options to key employees of the company. The purpose is to align the goals of the company's shareholders and key personnel to increase the company's value in the long term and to commit key personnel to the company and offer them a competitive remuneration system.
A total of 2,500,000 stock options can be issued under the stock option program and they are issued free of charge. The stock options entitle the holders to subscribe for a maximum of 2,500,000 new or treasury shares in the company, corresponding to a maximum of approximately 4.9 percent of all the company's shares and votes after a possible share subscription if the subscriptions consist solely of new shares.
The subscription price for the shares to be subscribed for under the stock options program is the thirty-day volume-weighted average price of the share during the review period, which may end two to seven days before the stock option issue date. The subscription price is realised in the company's invested unrestricted equity fund.
Options can be issued by a separate decision of the company's Board of Directors in a maximum of four batches in total.
The subscription period for the shares to be subscribed for on the basis of the stock options starts from the issuance of the stock options and ends on
Each 2022 Stock Option entitles its holder to subscribe for one new share. The 2022 stock options consist of two types: A options and B options. 2022 A stock options vest over a period of 4 years, with the first 25% vesting on the first anniversary of the issuance of the options and the remaining 75% vesting will vest in six equal instalments every six months following the following the first anniversary of the issuance date.
2022 B stock options vest based on the company's share price exceeding certain thresholds.
- 20% of the 2022 B stock options will vest on the date when the price for the company's share for the first time reaches or exceeds the share subscription price multiplied by 1.4, however this threshold may not be lower than
EUR 10.50 . -
Another 25% of the 2022 B stock options will vest on the date when the price for the company's share for the first time reaches or exceeds the share subscription price multiplied by 1.9, however this threshold may not be lower than
EUR 14.50 . -
Another 25% of the 2022 B stock options will vest on the date when the price for the company's share for the first time reaches or exceeds the share subscription price multiplied by 2.6, however this threshold may not be lower than
EUR 20.00 . -
The last 30% of the 2022 B stock options will vest on the date when the price for the company's share for the first time reaches or exceeds the share subscription price multiplied by 3.7, however this threshold may not be lower than
EUR 28.00 .
The share subscription price for the first batch of issued 2022 stock options is
The Board of Directors decided on the stock option program based on the authorization given by the company's Annual General Meeting on
The key terms of the stock option plan 2022 are available on the company's website www.spinnovagroup.com/remuneration.
For further information, please contact:
Tel. +358 400 138711
ir@spinnova.fi
Certified advisor:
Tel. +358 50 520 4098
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