SalMar - 2024 share-based incentive scheme for senior executives and key personnel

Core Points - SalMar ASA has established a share-based incentive scheme (Restricted Share Unit Plan) for senior executives and key personnel, encompassing up to 300,000 shares over a three-year duration [1][6] - The purpose of the scheme is to align employees' interests with those of shareholders and to enhance the company's ability to attract and retain staff [2] - Participants will receive Restricted Share Units (RSUs) free of charge, which will convert to shares if predefined performance criteria are met [3] Summary by Sections Incentive Scheme Overview - The RSUP will be funded through existing treasury shares, with SalMar holding 114,554 treasury shares as of December 19, 2024 [1] - The scheme aims to encourage long-term engagement and motivate employees to contribute to the company's success [2] Performance Criteria - The award of RSUs is structured over three accrual periods, with each period representing one-third of the total RSUs [3] - The criteria for awarding RSUs include: - One-third awarded without performance criteria - One-third based on SalMar's EBIT/kg performance compared to other aquaculture companies - One-third based on total shareholder return (TSR) relative to a defined group of comparable companies [4] Employee Participation and Limits - RSUs will accrue only if the individual is an employee of SalMar or a participating subsidiary, with a cap on the total gain from released RSUs not exceeding 100% of the participant's basic salary [5] - The RSUP goes into effect on December 19, 2024, targeting senior executives and key personnel [6] RSU Grants to Primary Insiders - Specific RSU grants to primary insiders include: - Frode Arntsen: 4,190 RSUs - Roger Bekken: 2,984 RSUs - Eva Haugen: 1,443 RSUs - Håkon Husby: 1,082 RSUs - Ingvild Kindlihagen: 498 RSUs - Runar Sivertsen: 2,094 RSUs - Ulrik Steinvik: 2,406 RSUs - Arthur Wisniewski: 1,732 RSUs - Simon Søbstad: 2,308 RSUs [7] Insider Holdings Post-Grant - Following the RSU grants, insider holdings include: - Frode Arntsen: 9,377 RSUs and 9,324 shares - Roger Bekken: 6,583 RSUs and 16,259 shares - Eva Haugen: 3,186 RSUs and 884 shares - Håkon Husby: 2,381 RSUs and 2,190 shares - Ingvild Kindlihagen: 1,095 RSUs and 276 shares - Runar Sivertsen: 4,182 RSUs and 5,959 shares - Ulrik Steinvik: 5,311 RSUs and 121,855 shares - Arthur Wisniewski: 3,820 RSUs and 3,776 shares - Simon Søbstad: 4,742 RSUs and 1,737 shares [8][9][10]