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Norsk Hydro: 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 respectively. 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 7, 2015, acquire Hydro shares under the above mentioned program at NOK 46.70 per share.

 

Name Shares to be acquired  Holding after LTI purchase
President and CEO Svein Richard Brandtzæg  19 954 180 519
Executive Vice President and CFO Eivind Kallevik 8 025 29 100
Executive Vice President Arvid Moss 8 083 125 768
Executive Vice President Hilde Merete Aasheim 8 668 59 367
Executive Vice President Alberto Fabrini 8 085 8 085

 

A total of 60 840 shares will be sold by Hydro to the participants in the Long Term Incentive program.

Hydro holds 29 105 148 own shares after this transaction and the number of outstanding shares are 2 039 893 128. In addition, all employees employed by Norsk Hydro in Norway have been offered to purchase shares valued at NOK 25,000 or NOK 12,500, with a 50 percent discount, under a general arrangement offered each year. For employees taking part in this arrangement, the share price is 23.35 per share, for 536 or 268 shares, which will be sold from Hydro’s position of treasury shares by the start of May 2015.

The following primary insiders have under the scheme each agreed to purchase 536 shares:

- President and CEO Svein Richard Brandtzæg

- Executive Vice President and CFO Eivind Kallevik

- Executive Vice President Arvid Moss

- Executive Vice President Hilde Merete Aasheim

- Executive Vice President Anne-Lene Midseim

- Executive Vice President Inger Sethov

- Executive Vice President Hanne Simensen

- Executive Vice President Kjetil Ebbesberg

- 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 Ingeborg Margrethe Liahjell

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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