Marel: Granting of stock options

On 3 May 2022 the decision was made to grant to employees 175,000 shares through stock option agreements, thereof 84,100 to the Executive Team. The stock options are granted to a member of the Executive Team and selected employees in strategic positions, in total 4 employees, the granting is in relation to new hires and changes in strategic positions. The aim of the stock option agreements is to align long-term interests of employees and of the Company. The key terms and conditions of the...

Gardabaer, 04/05/2022 (informazione.it - comunicati stampa - industria)

On 3 May 2022 the decision was made to grant to employees 175,000 shares through stock option agreements, thereof 84,100 to the Executive Team. The stock options are granted to a member of the Executive Team and selected employees in strategic positions, in total 4 employees, the granting is in relation to new hires and changes in strategic positions.

The aim of the stock option agreements is to align long-term interests of employees and of the Company. The key terms and conditions of the options are in line with the Company's share-based incentive scheme and remuneration policy which were approved by Marel's Annual General Meeting on 16 March 2022.

Key terms and conditions of the agreements are as follows:

The total number of unexercised stock options granted by Marel hf., including this new stock option scheme, currently amounts to 24.9 million shares corresponding to approximately 3.2% of total issued share capital. The Company's cost of the new share option scheme is estimated to be approximately EUR 156,000 over the next 3 years based on the option pricing model of Black-Scholes.

See attachment for information on stock options granted to a member of Marel's Executive Team.

*  The exercise price is determined by the closing price of Marel shares at Euronext Amsterdam on 3 May 2022, i.e . EUR  4.95 per share .

Attachment