Financial News
Norsk Hydro: Primary insiders purchase shares under Long-Term Incentive program and shares to employees
Members of Hydro’s Corporate Management Board and primary insiders have received shares in Hydro via the Long-Term Incentive plan and the employee share purchase program.
Long-Term Incentive plan
Norsk Hydro ASA has a share-based Long-Term Incentive (LTI) program in the form of a maximum remuneration of 30 percent of the annual base salary, dependent on two equally weighted performance metrics for the President and CEO, and the other members of the Corporate Management Board.
The two performance measures are 1.) Hydro's three year average adjusted RoaCE relative to Hydro's adjusted RoaCE target, with adjusted RoaCE based on market value of equity, and 2.) Hydro's three year Total Shareholder Return (TSR) relative to a group of peers.
The LTI payment is conditional on Hydro having a positive adjusted EBIT in the previous year. The participants will be required to invest the net amount after tax in Hydro shares and they must hold the shares for at least three years.
The list below sets out the primary insiders that on April 18, 2024, have been allocated Hydro shares under the LTI plan at NOK 56.48 per share.
Sale of shares to employees
Primary insiders in Hydro have also agreed to purchase shares under a general arrangement offered to employees employed by Hydro in Norway each year.
All employees in Norway have been offered to purchase shares valued at NOK 14,967.20, with a 50 percent discount. For employees taking part in this arrangement, the share price is NOK 28.24 per share, for 265 shares, and shares were transferred on April 18, 2024.
The following primary insiders have purchased shares under the LTI program and under the employee share plan:
| Name | Position | Acquired shares LTI plan | Acquired shares employee share plan | New holding |
| Hilde Merete Aasheim | President & CEO | 21 725 | 265 | 163 282 |
| Arvid Moss | EVP, Hydro Energy | 10 887 | 265 | 195 509 |
| Eivind Kallevik | EVP, Hydro Aluminium Metal | 12 227 | 265 | 97 874 |
| Anne-Lene Midseim | EVP, Legal and Compliance | 8 858 | 265 | 51 542 |
| John Thuestad | EVP, Hydro Bauxite & Alumina | 17 715 | 265 | 93 403 |
| Hilde Vestheim Nordh | EVP, People & HSE | 8 141 | 530* | 44 038 |
| Paul Warton | EVP, Hydro Extrusions | 19 767 | 36 198 | |
| Therese Rød Holm | EVP, Communication & Public Affairs | 7 327 | 265 | 8 869 |
| Trond O. Christophersen | CFO (acting) & EVP, Corporate Development | 9 111 | 265 | 15 148 |
*Including shares acquired under the employee share plan by close relative.
Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Attachments
- KRT-1500-Anne-Lene Midseim
- KRT-1500-Arvid Moss
- KRT-1500-Eivind Kallevik
- KRT-1500-Hilde Merete Aasheim
- KRT-1500-John Thuestad
- KRT-1500-Paul Warton
- KRT-1500-Therese Rod Holm
- KRT-1500-Hilde Vestheim Nordh
- KRT-1500-Trond Olaf Christophersen
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