In accordance with the authorization granted by the AGM on 6 May 2026, the board
of directors of Axactor ASA has decided to establish a long-term incentive
program (LTI 2026) for senior executives employed by the Axactor group. The plan
encompasses up to 3 500 000 shares.
Under the LTI 2026, participants will receive share options, which, if certain
predefined performance criteria are met within a performance period, can be
exercised by paying the predefined strike price. The strike price is set as the
average share price of the last 30 days prior to grant. One share option gives a
contingent entitlement to one share after paying the strike price.
The following criteria determine the award of options during the three-year
performance period:
o 1/3: employed when the performance period ends
o 1/3: share price development equal to or better than peers
o 1/3: return on equity meeting target set by the board of directors
Vesting of share options presumes that the individual is an employee of Axactor
group. The total gain from exercised options during one calendar year shall not
exceed 200 per cent of the participant's base salary at grant. The number of
options will be adjusted in the event of a dividend payout to preserve, but not
increase, the value of the share option allocation.
The LTI 2026 is effective from 20 June 2026, and the share options will be
vested after three years.
Primary insiders in the company have been allocated and accepted the following
grants of options according to the terms described above:
o Johnny Tsolis, CEO, has been granted 1 000 000 share options. Following the
grant, he holds 3 287 037 options in the company
o Nina Mortensen, CFO, has been granted 125 000 share options. Following the
grant, she holds 475 935 options in the company
o Arnt Andre Dullum, COO, has been granted 125 000 share options. Following the
grant, he holds 475 926 options in the company
o Karl Mamelund, Chief of Investments, has been granted 350 000 share options.
Following the grant, he holds 956 481 options in the company
o Vibeke Ly, Chief of Staff, has been granted 250 000 share options. Following
the grant, she holds 600 926 options in the company
Further the following have been granted and accepted share options according to
the terms described above:
o Stina Koren, country manager 3PC in Norway, has been granted 150 000 share
options. Following the grant, she holds 475 926 options in the company
o Lisa Sohtell, country manager NPL in Sweden and Norway, has been granted 125
000 share options. Following the grant, she holds 400 926 options in the company
o Yvonne Wagner, country manager in Germany, has been granted 125 000 share
options. Following the grant, he holds 225 000 options in the company
o Antonio Cataneo, country manager in Italy, has been granted 125 000 share
options. Following the grant, he holds 471 296 options in the company
o Andres Lopez, country manager in Spain, has been granted 500 000 share
options. Following the grant, he holds 1 462 963 options in the company
Of the 3 500 000 share options in the LTI 2026 program, 2 875 000 share options
have been granted.
he 3 500 000 share options in the LTI 2026 program\, 2 875 000 share options\
have been granted.\