On the general meeting held on April 10 2019, the annual general meeting adopted the updated general guidelines governing the incentive programs of Asetek A/S in accordance with section 139 of the Danish Companies Act.
Asetek considers compensation in the form of equity to be a positive and valuable tool in the support of alignment between the company’s and its employees long termed interests. Asetek plans to offer options to buy company shares to the majority of its full time employees in lieu of cash compensation, and contingent upon their continued employment by the company.
The right to options will typically be fully earned (“vested”) over 4 years following the date of the initial grant. The options will be granted at market value and will have a lifetime of 7 years. If not exercised during its lifetime, the option will expire; have no value to the holder, and will be returned to the company’s pool of options available for grants. Upon termination of the position with the company, the receiver will no longer receive further grants, and – subject to local legal regulations – the receiver may be forced to exercise any exercisable options, or they will expire.
Prior to the current option programs initiation in 2018, Asetek had several warrant programs in place. Warrants issued under these programs have terms which closely resembles the terms of the current option program.
Asetek acknowledges that option- and warrant holders occasionally will desire to exercise and simultaneously sell their Asetek shares for the purpose of portfolio diversification. Such transactions may likely be affected by the local tradition in the area in which the option- or warrant holder is employed.
Stock Exchange Notifications pertaining to our equity incentive programs:
10.08.2013 ASETEK – Issuance of Warrants
04.24.2014 ASETEK – Issuance of Warrants
08.14.2014 ASETEK – Issuance of Warrants
04.30.2015 ASETEK – Minutes from Annual General Meeting (authorization of warrant pool)
08.13.2015 ASETEK – Issuance of Warrants
04.29.2016 ASETEK – Issuance of Warrants
04.26.2017 ASETEK – Issuance of Warrants
07.10.2017 ASETEK – Issuance of Warrants
02.11.2018 ASETEK - Employee Stock Option Program