The CEO and a board member in MIPS sell shares following exercise of warrants and subscription of shares

Prior to the stock market listing of MIPS AB (“MIPS”) in March 2017, an Extraordinary General Meeting resolved to adopt two warrant-based incentive programs for certain board members and employees in MIPS. During March and April 2020, warrants have been exercised for subscription of a total of 883,750 new shares in MIPS. No further subscription of shares will be made under the programs.

MIPS’ CEO, Max Strandwitz and the board member Pernilla Wiberg have, following the completed subscription of shares, decided to sell a total of 120,000 shares in the afternoon of 7 May 2020, corresponding to just below 0.5 percent of the total number of shares in MIPS. The price in the sale was SEK 253 per share.

The sales were primarily carried out in order to finance payment of the subscription price in the previous warrant program and, in relation to MIPS’ CEO, Max Strandwitz, to finance payment of the warrant premium in the new warrant program in which Max intends to subscribe for the maximum number of warrants allocated to him.

Source: MFN
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