Reach Subsea ASA: Award of share options

30 Aug 2024 16:30 CEST

The Board of Directors of Reach Subsea ASA has decided to establish a long-term
incentive program for senior executives and key personnel in accordance with the
Group’s Remuneration Guidelines. The incentive program encompasses up to
15,000,000 new share options. Under the incentive program, participants will
receive share options, which, if certain predefined performance criteria are met
within a performance period, can be exercised by paying the predefined strike
price. The strike price is set as the nominal value, NOK 1.00. One share option
gives a contingent entitlement to one share after paying the strike price.
Participants in the incentive program can elect to have up to 50% of their
options settled in cash to finance any potential tax expenses.

50% of the options issued will vest after 3 years given a share price above NOK
9.00.
50% of the options issued will vest after 5 years given a share price above NOK
12.00.

The share price hurdles of NOK 9.00 and NOK 12.00 are subject to adjustments for
dividends paid during the vesting period.

Primary insiders in the company have been allocated the following grants of
options, according to the terms described above:

Jostein Alendal, CEO, has been granted 1,800,000 share options. Following the
grant, he holds 1,950,000 options in the company.
Birgitte Wendelbo Johansen, CFO, has been granted 1,800,000 share options.
Following the grant, she holds 1,950,000 options in the company.
Inge Grutle, COO, has been granted 1,800,000 share options. Following the grant,
he holds 1,950,000 options in the company.
Bård Thuen Høgheim, CCO, has been granted 1,800,000 share options. Following the
grant, he holds 1,950,000 options in the company.
Audun Brandtzæg, CTO, has been granted 1,800,000 share options. Following the
grant, he holds 1,950,000 options in the company.



For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading
Act. This stock exchange announcement was published by Birgitte Wendelbo
Johansen, CFO at Reach Subsea AS on the time and date provided.

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