Norwegian awards NKr 144m worth share options to employees

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Norwegian's board of directors has granted a total of 625,000 share options to management and to key personnel.

Under the new option programme Norwegian' chief executive officer Bjørn Kjos, chief financial officer Frode Foss and chief operating officer Asgeir Nyseth were granted 100,000 options each. Kjos holds 8,035,231 shares in the company, while Foss and Nyseth have 35,000 and 12,342 shares, respectively.

Senior vice president of human resources Gunnar Martinsen and senior vice president corporate communications Anne-Sissel Skånvik were granted 50,000 options each, while chief legal officer Fride Berg and chief information officer Per-Ivar Gjørvad received 20,000 options.

Another 185,000 share options were granted to employees in the company. The options have an exercise price 10 % above the weighted average price on 20 March, 2013, which is equal to NKr 231.2 ($39.7).

The options granted may be exercised two years after the grant. The exercise window is six months.