Photocure ASA : Share Option Program

Published: 7 March 2012Financial Investment & Stock

Oslo, Norway, 7 March 2012

Photocure has a share options program were each option gives the right to acquire one share in the company. The subscription rights for 2011 can only be exercised if certain milestones and goals are achieved. The Board of Directors decided a final allotment of 408,719 of these employee share options. Strike price for the options is NOK 50.75 per share. Of these options, the following amount was allotted to the management team:

  • Kjetil Hestdal, President and CEO 30.000
  • Terry Conrad, Head US Dermatology Commercial Operations 15.000
  • Kathleen Deardorff, Chief Operating Officer 75.000
  • Inger Ferner Heglund, VP Research and Development 19.500
  • Grete Hogstad, VP Strategic Marketing 17.250
  • Gry Stensrud, VP Technical Development and Operations 22.500

The Board of Directors decided a conditional allotment of 700,000 share options for 2012. The subscription rights can only be exercised if certain goals for 2012 are achieved. Strike price for the options is NOK 40.50 per share. Of these conditional subscription rights, the following amount was allotted to the management team:

  • Kjetil Hestdal, President and CEO 50,000
  • Ambaw Bellete, Head US Cancer Commercial Operations 30.000
  • Terry Conrad, Head US Dermatology Commercial Operations 30.000
  • Kathleen Deardorff, Chief Operating Officer 30.000
  • Inger Ferner Heglund, VP Research and Development 30,000
  • Grete Hogstad, VP Strategic Marketing 30,000
  • Espen Njåstein, Head Nordic Cancer Commercial Operations 30.000
  • Gry Stensrud, VP Technical Development and Operations 30,000

For further information, please contact:

PhotocurePresident & CEO Kjetil Hestdal
Tel: + 47 913 19 535, Email: kh@photocure.no

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

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