AND is happy to announce that it has granted share options to all of its employees and a limited number of long-term contractors. In total approximately. 17,000 share options have been awarded. The strike price of these share options has been set at €1.46. Starting 1 July 2022, these options are due to vest in four equal quarterly portions, at the 90 day average closing price of the AND stock within the period immediately preceding the vesting date. Settlement will be in company shares.
The Supervisory Board and the Management board feel that it is important to grant all of AND’s employees the opportunity to benefit from the company turnaround by means of share options. This also aligns employees’ interests with those of the shareholders whose main focus is long term value creation.
In addition, the Supervisory Board is pleased to disclose that a Share Option Agreement has been put in place between the company and the CFO/Managing Director. Under this agreement and at the discretion of the Supervisory Board, the CFO/Managing Director will be eligible for a maximum of 22,000 share options per annum. Those are of course subject to specific targets being met. The strike price of these share options will be equal to the 90 day average closing share price preceding the award date. These will vest in four equal quarterly portions starting two years after the award date and are subject to a one-year hold period. Settlement will be in company shares. Upon the CFO/Managing Director’s appointment earlier on this year, a first tranche of 22.000 share options was awarded at the strike price of €1,46.