Norsk Hydro Norsk Hydro: Primary Insiders Purchase Shares Under Long Term Incentive Program And Shares To Employees

TIDMNHY 
 
 
   Long-Term Incentive plan 
 
   Norsk Hydro ASA has a share-based Long-Term Incentive (LTI) in the form 
of a remuneration of 30 percent of annual base salary for the President 
and CEO and the other members of the Corporate Management Board. The LTI 
payment requires that Hydro had a positive underlying EBIT in the 
previous year and is based partly on a) last three years return on 
capital employed achieved in the company and partly on b) return on 
capital employed achieved in proportion to a weighted average of return 
on capital employed achieved by a group of peer companies. 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. With 
effect from 2019, the return element in (b) has been changed from return 
on capital employed to total shareholder return. 
 
   See list below of primary insiders that on April 26, 2019, have acquired 
Hydro shares under the LTI plan at NOK 34.57 per share. A total of 49 
642 shares have been sold by Hydro to the participants in the LTI plan. 
 
   Sale of shares to employees 
 
   Primary insiders in Norsk Hydro have also agreed to purchase shares 
under a general arrangement offered to employees employed by Norsk Hydro 
in Norway each year. 
 
   All employees in Norway have been offered to purchase shares valued at 
NOK 12,500, with a 50 percent discount. For employees taking part in 
this arrangement, the share price is NOK 34.57 per share, for 361 shares, 
and will be transferred during June 2019. 
 
 
 
 
 
   The following primary insiders have purchased shares under the long-term 
incentive program and agreed to purchase shares under the employee share 
plan: 
 
 
 
 
                                                              Shares agreed 
                                                              to be acquired 
                                            Acquired shares   employee share     New 
Name                                            LTI plan           plan        holding 
-----------------------------------------  ----------------  ---------------  -------- 
President and CEO Svein Richard 
 Brandtzæg                                       9 198              361   253 684 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President and CFO Eivind 
 Kallevik                                             4 811              361    62 644 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President Head of Bauxite 
 & Alumina John Thuestad                              4 398              361    25 202 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President Energy & 
 Corporate Business Development Arvid 
 Moss                                                 4 384              361   158 308 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President Primary Metal 
 Hilde Merete Aasheim                                 4 711              361    94 161 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President Rolled Products 
 Kjetil Ebbesberg                                     4 311              361    58 798 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President Extruded 
 Solutions Egil Hogna                                 7 430              361    50 742 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President CSR & General 
 Counsel Anne-Lene Midseim                            3 506              361    30 262 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President Communication 
 & Public Affairs Inger Sethov                        3 214              361    27 538 
-----------------------------------------  ----------------  ---------------  -------- 
Executive Vice President People & 
 HSE Hilde Nordh                                          -             722*    16 753 
-----------------------------------------  ----------------  ---------------  -------- 
Employee representative to the Board 
 of Directors Arve Baade                                  -              361     4 708 
-----------------------------------------  ----------------  ---------------  -------- 
Employee representative to the Board 
 of Directors Svein Kåre Sund                        -              361     6 012 
-----------------------------------------  ----------------  ---------------  -------- 
Employee representative to the Board 
 of Directors Sten Roar Martinsen                         -              361     6 447 
-----------------------------------------  ----------------  ---------------  -------- 
Observer to the Board of Directors 
 Tor Egil Skulstad                                        -              361       804 
-----------------------------------------  ----------------  ---------------  -------- 
Company Secretary Hans Eide Aarre                         -              361     2 865 
-----------------------------------------  ----------------  ---------------  -------- 
 
 
   *Including shares agreed to be acquired under the employee share plan by 
close relative 
 
   Investor contact 
 
   Contact Stian Hasle 
 
   Cellular +47 97736022 
 
   E-mail Stian.Hasle@hydro.com 
 
   Press contact 
 
   Contact Halvor Molland 
 
   Cellular +47 92979797 
 
   E-mail Halvor.Molland@hydro.com 
 
   Cautionary note 
 
   Certain statements included in this announcement contain forward-looking 
information, including, without limitation, information relating to (a) 
forecasts, projections and estimates, (b) statements of Hydro management 
concerning plans, objectives and strategies, such as planned expansions, 
investments, divestments, curtailments or other projects, (c) targeted 
production volumes and costs, capacities or rates, start-up costs, cost 
reductions and profit objectives, (d) various expectations about future 
developments in Hydro's markets, particularly prices, supply and demand 
and competition, (e) results of operations, (f) margins, (g) growth 
rates, (h) risk management, and (i) qualified statements such as 
"expected", "scheduled", "targeted", "planned", "proposed", "intended" 
or similar. 
 
   Although we believe that the expectations reflected in such 
forward-looking statements are reasonable, these forward-looking 
statements are based on a number of assumptions and forecasts that, by 
their nature, involve risk and uncertainty. Various factors could cause 
our actual results to differ materially 
 
   from those projected in a forward-looking statement or affect the extent 
to which a particular projection is realized. Factors that could cause 
these differences include, but are not limited to: our continued ability 
to reposition and restructure our upstream and downstream businesses; 
changes in availability 
 
   and cost of energy and raw materials; global supply and demand for 
aluminium and aluminium products; world economic growth, including rates 
of inflation and industrial production; changes in the relative value of 
currencies and the value of commodity contracts; trends in Hydro's key 
markets and competition; and legislative, regulatory and political 
factors. 
 
   No assurance can be given that such expectations will prove to have been 
correct.  Hydro disclaims any obligation to update or revise any 
forward-looking statements, whether as a result of new information, 
future events or otherwise. 
 
   This information is subject to the disclosure requirements pursuant to 
Section 5-12 the Norwegian Securities Trading Act.
(END) Dow Jones Newswires
April 26, 2019 08:25 ET (12:25 GMT)
Norsk Hydro ASA (QX) (USOTC:NHYDY)
Historical Stock Chart
From Dec 2024 to Jan 2025