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Festi hf.: Share Option Plan for employees of the Festi Group

Written by Customer Service on . Posted in Public Companies.

In accordance with the Remuneration Policy of Festi hf., a share option plan is in effect based on Article 10 of the Income Tax Act No. 90/2003, as approved at the Company’s Annual General Meeting held on 6 March 2024.

The share option plan is valid for a period of three years, i.e. until May 2027, and applies to all permanent employees of the Festi Group. The objective of the plan is to align the interests of employees with the performance and long-term goals of the Company and its shareholders. Implementation of the share option plan was previously disclosed in announcements dated 24 April and 5 May 2024 and 19 May 2025.

Pursuant to Article 2.3 of the share option plan, employees who commence employment with Festi or its subsidiaries after the adoption of the plan are entitled to enter into a share option agreement, such entitlement commencing on the next exercise date following the start of their permanent employment contract and continuing until the expiration of the plan or termination of their employment. The same applies to employees of new companies that become part of the Group during the term of the plan.

Following the exercise of share options in May and the execution of new share option agreements as outlined above, there are currently outstanding share option agreements with employees of the Group covering a total of 5,628,347 shares for the duration of the plan, until May 2027. The exercise prices are as follows: options for a total of 4,284,632 shares at an exercise price of ISK 180 (adjusted for dividends), 1,017,184 shares at an exercise price of ISK 290.1 (adjusted for dividends) and 326,531 shares at an exercise price of ISK 343. In accordance with the share option plan, the exercise price is adjusted for future dividend payments and corresponding distributions to shareholders from the Company’s assets. The total number of employees of Festi and its subsidiaries holding valid share option agreements under the share option plan is 1,368.

The share option plan is attached.

For further information, please contact Ásta S. Fjeldsted, CEO of Festi –  asta@festi.is or Magnús Kr. Ingason, CFO of Festi – mki@festi.is

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