MAREL

On 3 May 2022 the decision was made to grant to employees 175,000 shares through stock option agreements, thereof 84,100 to the Executive Team. The stock options are granted to a member of the Executive Team and selected employees in strategic positions, in total 4 employees, the granting is in relation to new hires and changes in strategic positions.

The aim of the stock option agreements is to align long-term interests of employees and of the Company. The key terms and conditions of the options are in line with the Company‘s share-based incentive scheme and remuneration policy which were approved by Marel’s Annual General Meeting on 16 March 2022.

Key terms and conditions of the agreements are as follows:

• The stock option agreements entitle purchase of shares at the base exercise price of EUR 4.95 per share.* The exercise price shall be adjusted for any dividend payments decided after the grant date.
• One vesting period of 3 years. Exercisable for a period of one year starting on the date the options become fully vested excluding four closed periods, each a period of 30 calendar days before the Company’s disclosure of quarterly financial reports.
• Option holders can delay exercise of these options to Q2 2026, when the agreements expire and all unexercised options are cancelled.
• Marel’s Executive Team members are required to hold shares, corresponding to the net profit gained from the options (after tax) until the following holding requirements are reached, measured in total share value owned as a multiple of annual base salary: CEO three times; other members of the Executive Team two times.
• Other option holders are not subject to holding requirements.
• The options are valid only if the holder is still employed by Marel group (Marel hf. or its subsidiaries) at the time of vesting.

The total number of unexercised stock options granted by Marel hf., including this new stock option scheme, currently amounts to 24.9 million shares corresponding to approximately 3.2% of total issued share capital. The Company’s cost of the new share option scheme is estimated to be approximately EUR 156,000 over the next 3 years based on the option pricing model of Black-Scholes.

See attachment for information on stock options granted to a member of Marel's Executive Team.

* The exercise price is determined by the closing price of Marel shares at Euronext Amsterdam on 3 May 2022, i.e. EUR 4.95 per share.

Attachment

• 20220504 SK

Grafico Azioni Marel hf (EU:MAREL)
Storico
Da Feb 2023 a Mar 2023

Grafico Azioni Marel hf (EU:MAREL)
Storico
Da Mar 2022 a Mar 2023