Mowi has granted 1.785 million share options to 44 senior executives under its long-term incentive programme.
The options give executives the right to buy Mowi shares in the future at a fixed price of NOK 212.28 per share. If the company’s share price rises above that level, the options may become valuable.
The options were awarded on 18 June at a strike price equivalent to 107.5% of the volume-weighted average share price on the date of Mowi’s annual general meeting on 3 June.
Half of the options are linked to Mowi’s share price performance relative to a peer group, while the remaining half are not subject to performance criteria. The options have a four-year term.
Chief executive Ivan Vindheim received 200,000 options, bringing his total outstanding options to 841,979. CFO Kristian Ellingsen and the company’s six chief operating officers each received 100,000 options.
Under the scheme, gains from exercised options are capped at one year’s salary for each option holder. The awards were made under remuneration guidelines approved by shareholders at Mowi’s annual general meeting, according to a stock exchange filing.
