Skip to content ↘

      Insights

              Primary insiders to purchase shares under programs for Long Term Incentive and shares to employees

              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. 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 will on April 2, 2014, acquire Hydro shares under the above mentioned program at NOK 29.70 per share.

               

              Name Shares to be acquired Holding after LTI purchase
              President and CEO Svein Richard Brandtzæg  30 611 160 229
              Executive Vice President and CFO Eivind Kallevik 11 285 20 739
              Executive Vice President Wenche Agerup 12 311 54 698
              Executive Vice President Oliver Bell 19 922 70 553
              Executive Vice President Arvid Moss 12 400 117 349
              Executive Vice President Hilde Merete Aasheim 13 298 50 363
              Executive Vice President Johnny Undeli 14 253 52 858


              A total of 121,271 shares will be sold by Hydro to the participants in the Long Term Incentive program.

              Hydro holds 30,087,972 own shares after this transaction and the number of outstanding shares are 2,038,910,304.

              In addition, all employees employed by Norsk Hydro in Norway have been offered to purchase shares valued at NOK 10,000, with a 25 percent discount, under a general arrangement offered each year. For employees taking part in this arrangement, the share price is NOK 22.28 per share, for 336 shares, and will be transferred by the end of April 2014.

              The following primary insiders have under the scheme each agreed to purchase 336 shares:

              - President and CEO Svein Richard Brandtzæg
              - Executive Vice President and CFO Eivind Kallevik
              - Executive Vice President Wenche Agerup
              - Executive Vice President Arvid Moss
              - Executive Vice President Hilde Merete Aasheim
              - Executive Vice President Johnny Undeli
              - Employee representative to the Board of Directors Billy Fredagsvik
              - Employee representative to the Board of Directors Ove Ellefsen
              - Employee representative to the Board of Directors Sten Roar Martinsen
              - Company Secretary Anne-Lene Midseim

              Published: April 1, 2014