Hexagon Purus ASA ("Purus" or "the Group") has decided to provisionally award up to 132,702 Restricted Share Units ("RSUs") and 1,804,312 Performance Share Units ("PSUs", collectively, the "Units") which may result in an award of maximum 3,741,326 shares to executive management and other leading employees of the Group under the 2023 Long-Term Incentive Program (the "LTIP").
The purpose of the program is to align the interests of the participants with those of the Company's shareholders. The number of shares the participants may receive under the PSUs depends on the share price development of the Purus share and is capped at 3,608,624 shares. Each vested PSU will give the holder the right to receive up to two shares in the Company, and each vested RSU will give the holder the right to receive up to one share in the Company. All Units have an exercise price corresponding to the par value of the shares (NOK 0.10).
The awards are in accordance with the Board of Directors' remuneration policy for executive management. The Units are non-transferable and will vest in March 2026 (one year after the 2022 LTIP), subject to satisfaction of the applicable vesting conditions.
Of the grants, 631,500 Units were granted to PDMRs, as further specified in the attached form.
For more information:
Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | firstname.lastname@example.org
About Hexagon Purus
Hexagon Purus enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium and heavy-duty vehicles, buses, ground storage, distribution, refueling, maritime, rail and aerospace.
Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and LinkedIn
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act