4 May 2020 – Under Kvaerner’s variable pay programme for executives for 2019, 50 percent of the earnings is deferred for three years and paid-out along with a restricted share programme element provided the executive is employed by the company at the time of payment. The share programme element for the variable pay programme 2019 is calculated by the average volume weighted share price on 30 April 2020, which was NOK 6.42. The shares will be bought by Kvaerner in 2020 and allocated to the executives three years later. Reference is made to the Board of Directors’ statement of executive remuneration published on Kvaerner’s website: www.kvaerner.com. Attached is an overview of shares reserved for the primary insiders eligible under the variable pay the programme 2019.
For further information, please contact:
Torbjørn Andersen, Vice President, IR & Communications, Kvaerner, Tel: +47 928 85 542, email: email@example.com