Today a primary insider in Schibsted ASA, Andrew Kvålseth, has been granted restricted B shares in connection with the long-term incentive plan (the “Executive LTI Plan”), in addition to an extraordinary share allocation as stated in his employment agreement.
The Executive LTI Plan is an annual 3-year rolling plan, part delivered in restricted shares and part delivered in performance shares, with fulfilment in Schibsted B-shares. The program is applicable to the CEO, the members of Schibsted’s Executive Team as well as to a few selected key roles, and will be transferred at the end of the 3-year program period.
The extraordinary share allocation consists of Schibsted B shares. 50% of the award will vest 1 year following the grant date and 50% 2 years following the grant date. The shares will be transferred to the grantee following each of the vesting dates.
For more information on the LTI Plan, please refer to Schibsted ASA’s annual report 2020 under the section “The Board of Directors’ Statement of Executive Compensation for Schibsted excluding Adevinta”.
Please see the attached form(s) for notification and public disclosure of transactions, including net number* of restricted shares granted to primary insiders.
* Net number of restricted B-shares to be received on the vesting date. The net number of restricted shares is partially based on the participant's current marginal tax rate. The actual number of shares received at the vesting date may vary, should the participant's margin tax rate at the vesting date have changed.
Oslo, 1 September 2021
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Schibsted is a family of digital brands with a strong Nordic position, and more than 5,000 employees. Millions of people enjoy interacting with our companies every day through our online marketplaces such as FINN, Blocket and Oikotie; our media houses including Aftenposten, VG and Aftonbladet; and digital services like Lendo. We also help new promising businesses grow. Our joint mission of empowering people in their daily lives is rooted in the values of our media heritage and a legacy of bold change. At our best, we are a fearless force for change in a society built on trust and transparency.
Schibsted is listed on Oslo Børs and holds a majority ownership in Adevinta, a company that was spun off and publicly listed as a separate company on Oslo Børs in 2019.