Scatec ASA: Long term incentive programme

Oslo, 4 January 2021: In line with the terms adopted by the Annual General Meeting of Scatec ASA in 2020, the Board of Directors continue the share-based incentive programme for leading employees of the company, following the same principles as previous years. Today, a total of 251,242 share options were granted to leading employees, including the following primary insiders:

Raymond Carlsen, CEO: 18,163
Mikkel Tørud, CFO: 12,986
Torstein Berntsen, EVP Power Production & Asset Management: 10,721
Pål Helsing, EVP Solutions: 10,845
Roar Haugland, EVP Sustainable Business & HSSE: 10,087
Terje Pilskog, EVP Project Development & Project Finance: 11,814
Snorre Valdimarsson, EVP General Counsel: 10,730
Toril Haaland, EVP People & Organisation: 9,210
Ingrid Aarsnes, VP Communication & IR: 3,912

Each share option gives the right to subscribe for and be allotted one share in Scatec ASA. The strike price of the options is set to NOK 314.91 per share based on the volume weighted average share price over the ten last trading days preceding the grant date of 4 January 2021. The options will lapse if not exercised by 1 January 2025. The option grant is divided into three tranches whereby 1/3 vests each year over three years, with the first tranche vesting 1 January 2022. The current grant is the second of three contemplated annual grants of share options in accordance with Scatec’s share-based incentive programme.

Attached is an overview of the primary insiders’ total numbers of share options.

For further information, please contact:    

Ingrid Aarsnes, Communication & IR  
tel: +47 950 38 364, email:     

About Scatec ASA
Scatec is a leading integrated independent renewable power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec develops, builds, owns, operates and maintains power plants and has an installation track record of more than 1.6 GW. The company has a total of 1.9 GW in operation and under construction on four continents. 

With an established global presence and a significant project pipeline, the company is targeting a capacity of 4.5 GW in operation and under construction by end of 2021. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’. 

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