SpareBank 1 SR-Bank ASA: Trading of own shares as part of employee's bonus scheme
(Thomson Reuters ONE) -
SpareBank 1 SR-Bank ASA has on 26 March 2012 purchased 150 000 own shares at an
average price of NOK 43,13. Total holdings of own shares after the purchase is
270 988 shares.
The shares were acquired as part of SpareBank 1 SR-Bank's bonus scheme where
part of the settlement takes place through the allocation of shares. Based on
the results achieved in 2011, employees will be assigned approximately 251 000
shares on 20 April 2012. In addition,SpareBank 1 SR-Bank has a commitment to
allocate additional shares in individual bonuses equivalent to about NOK 10
million. The required number of shares will be acquired after the previously
announced rights issue is completed.
General information about the bonus scheme
SpareBank 1 SR-Bank has a bonus scheme which includes all employees. The general
bonus is determined as an equal percentage of salary, and can amount to 1.5
months salary. The general bonus is paid by half in cash and half in the form of
shares issued by SpareBank 1 SR-Bank ASA. Employees who choose to retain the
shares received at least one year will receive 1/2 extra share ("loyalty
shares") per share previously awarded.
SpareBank 1 SR-Bank also has an arrangement with individual bonus that can be
used as a tool for to reward extraordinary performance. Any individual bonus can
as a general rule maximum constitute 25 percent of base salary including the
general bonus. The individual bonus will be paid by half in cash and half in the
form of shares issued by SpareBank 1 SR-Bank ASA, but all such shares will be
paid to the employee by up to one third each of the next three years.
Contacts:
Thor-Christian Haugland, Executive Vice President Communications, phone
+47 480 31 633
Vidar Torsøe, Vice President Investor Relations, phone +47 970 80 656
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SpareBank 1 SR-Bank ASA via Thomson Reuters ONE
[HUG#1596243]
Unternehmensinformation / Kurzprofil:
Datum: 21.03.2012 - 15:34 Uhr
Sprache: Deutsch
News-ID 127150
Anzahl Zeichen: 2679
contact information:
Town:
Stavanger
Kategorie:
Business News
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