4.1.2021 10:17:04 CET | Topdanmark A/S | Other information disclosed according to the rules of the Exchange

4 January 2021

Announcement no. 01/2021

Issue of options

Since 1998, Topdanmark has had a revolving share option scheme for its Executive Board and a number of executives. As in previous years, the strike price has been fixed on the basis of the price of Topdanmark's shares on the last trading day of the year (average of all trades).

Topdanmark has issued 225,963 share options to the Executive Board and a number of executives for 2021. The strike price of DKK 291 has been fixed at 110% of the price of Topdanmark's shares on 30 December 2020 (average of all trades).

Additional to the revolving scheme, a further 80,000 share options have been issued for 2021 to other executives who have made special efforts or otherwise contributed extraordinarily to the value creation of the Company.

The options cannot be exercised any earlier than subsequent to the publication of the 2023 annual results in 2024, and any later than subsequent to the publication of the 2025 annual results in 2026. In the interim period, the options may be exercised up until three banking days subsequent to Topdanmark's publication of its annual, half-yearly or quarterly reports. 

The value of issuing the options amounts to DKK 10m, using the Black and Scholes model assuming a share price of DKK 264.373, an interest rate equivalent to the zero coupon rate based on the swap curve of 30 December 2020, future annual volatility of 22%, a pattern of exercise similar to Topdanmark's previous allocations of share options and otherwise in accordance with IFRS 2 on share-based payments.

 

Please direct any queries to:

Lars Thykier, CFO

Tel: +45 4474 3714

 

Topdanmark A/S
CVR. no. 78040017
Borupvang 4
DK-2750 Ballerup

Contacts

  • Lars Thykier, CFO, + 45 44 74 37 14
  • Steffen Heegaard, IR Director, +45 44 74 40 17

About Topdanmark A/S

Topdanmark is one of the country's largest insurance and pension companies.

For more than 100 years, we have helped our customers care for what matters the most. Prevent and limit damages. Secure financial security before and after retirement. For the benefit of both people and the environment.

It makes us an attractive company - not only for our customers, but also for our employees, shareholders and the world around us.

Find more information about Topdanmark on topdanmark.com

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