The Board of Adevinta has approved a new employee share purchase plan for its employees. The purpose of the plan is to motivate and retain employees as well as to increase the interest in Adevinta’s result and performance through owning Adevinta shares.
It’s the Board’s intention that the plan will be a continuing part of the company’s employee incentive scheme. However, the board shall have the right to decide, in its sole discretion, whether or not the plan will be extended in the future, the terms of the plan, and who should be eligible.
For 2019, the company offer a share purchase plan based on an annual contribution range of maximum NOK 72,000 (or equivalent in local currency) or 5% of annual gross fixed salary (if lower) with a minimum contribution level of 1%. Employees can enrol on a quarterly basis. The contributions are deducted from the monthly net salary and used to purchase Adevinta shares quarterly on behalf of the employees. The first purchase will take place week commencing 14th October. The purchase price and the number of shares acquired by the company will be reported in accordance with the applicable regulations. Employees will be allocated shares at purchase price which is the market price on the purchase date (i.e. no discount).
After two years of ownership, the company will allocate two bonus shares for every share bought during the first two quarterly enrolments in 2019. Thereafter, one bonus share for every share bought in connection with this offer.
Attached to this release is a list of employees that are primary insiders and that have subscribed in the share purchase plan for 2019. The subscribed amount disclosed is the total for a full calendar year. The purchase price and the number of shares will be reported when allocation is made.
Oslo, 17 June 2019