Following approval by Norsk Hydro ASA’s Annual General Meeting in 2010, the Board of Directors established a Long Term Incentive (LTI) in the form of a remuneration of 30 percent and 25 percent of annual base salary for the President and CEO and the other members of the Corporate Management Board, respectively, in 2010.
The LTI payment requires that Hydro has had a positive underlying EBIT in the previous year. The participants will be required to invest the net amount after tax in Hydro shares and such shares must be held for at least three years.
The following primary insiders have on May 13, 2011, acquired Hydro shares under the abovementioned program at NOK 46.01 per share.
|Acquired shares||New holding|
|President and CEO Svein Richard Brandtzæg||16,454||52,847|
|Executive Vice President and CFO Jørgen
C. Arentz Rostrup
|Executive Vice President Tom Røtjer||6,896||29,846|
|Executive Vice President Wenche Agerup||5,100||10,637|
|Executive Vice President Hans-Joachim Kock||5,825||13,325|
|Executive Vice President Oliver Bell||11,415||14,415|
|Executive Vice President Kjetil Ebbesberg||6,979||8,033|
|Executive Vice President Arvid Moss||7,136||73,457|
|Executive Vice President Hilde Merete Aasheim||7,048||11,112|
|Executive Vice President Johnny Undeli||8,150||11,632|
A total of 88,530 shares have been sold by Hydro to the participants in the Long Term Incentive program. Hydro holds 32,539,257 own shares after this transaction and the number of outstanding shares is 2,036,459,019.