The board of directors of IDEX Biometrics ASA has resolved to issue 1,527,917 shares at NOK 1.43 per share to employees who participate in the company’s Employee Share Purchase Plan (ESPP), which plan was approved by the annual general meeting on 15 May 2020. The employees may elect to invest up to 20% of the base salary in shares in the company. Purchase takes place every three months. The shares are restricted for three months.
Following the issue, the Company's share capital will be NOK 124,822,012.20 divided into 832,146,748 shares each with a nominal value of NOK 0.15.
ESPP
The ESPP was approved at the annual general meeting on 15 May 2020. Reference is made to the notice of said meeting where the plan document in connection with the ESPP is attached.
All employees in the Company and its subsidiaries, except in China, have been offered to subscribe for shares in the Company in connection with the ESPP. The ESPP is structured around four contribution periods a year, each starting on the first day of the calendar month following each planned disclosure of an interim report of the Company and lasts for the following three months. During each contribution period, a fixed amount (up to 20% of the employee’s gross base salary) is withheld from the employee’s net salary. The employee may sign up to participate in the ESPP from the date of a public disclosure of an interim report until the beginning of the contribution period. Unless the employee actively withdraws from the ESPP, participation is automatically renewed for the same amount for subsequent contribution periods. The board's resolution to issue new shares in connection with the ESPP is made pursuant to the authorization granted by the Company's annual general meeting on 15 May 2020 to increase the Company's share capital in connection with the ESPP.
In accordance with the ESPP, the subscription price is the lower closing price of the Company’s share, as traded on Oslo Børs, on the first or last day of the contribution period, less 15% discount. Payment of the subscription amount is made out of the relevant employee salary withholding.
In accordance with Regulation (EU) 2017/1129 (the “Prospectus Regulation”) Article 1 (5) h, issuance of shares in connection with the ESPP is exempt from the obligation to publish a listing prospectus.
Participants
46 employees participated in the ESPP in this period. The following primary insiders acquired shares as follows:
CEO Vince Graziani acquired 125,239 shares. After the transaction, Mr. Graziani holds 810,239 shares and 5,000,000 incentive subscription rights to shares in IDEX.
CFO Derek D’Antilio acquired 70,447 shares. After the transaction, Mr. D’Antilio holds 681,926 shares and 2,000,000 incentive subscription rights to shares in IDEX.
CTO Anthony Eaton acquired 38,534 shares. After the transaction, Mr. Eaton holds 249,575 shares and 1,452,800 incentive subscription rights to shares in IDEX.
VP Finance Erling Svela acquired 18,692 shares. After the transaction, Mr. Svela will holds 338,859 shares and 1,061,200 incentive subscription rights to shares in IDEX.
EVP Advanced Technology and Strategy Stan Swearingen acquired 31,112 shares. After the transaction, Mr. Swearingen holds 1,149,576 shares and 8,015,900 incentive subscription rights to shares in IDEX.
For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
Derek D’Antilio, Chief Financial Officer
E-mail: derek.dantilio@idexbiometrics.com
Tel: +1 978 273 1344
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of fingerprint identification technologies offering simple, secure and personal authentication for all. We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings with the touch of a finger. We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com and follow on Twitter @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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IDEX Biometrics: Employee Share Purchase Plan 2 Dec 2020 Oslo Stock Exchange:IDEX - GlobeNewswire
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