IDEX Biometrics: Compensation taken in shares 1 July 2020
The annual general meeting of IDEX Biometrics ASA on 15 May 2020 resolved that the board could offer to employees to take a part of their salary in shares instead of cash.
Following election from employees, the board has on 1 July 2020 resolved to issue 4,318,523 shares instead of a cash compensation of NOK 5.4 million or USD 0.6 million. 59 employees participated in this program. The shares are subject to a 6-months lockup period before they are tradable. When converting compensation amount to shares, a 15% discount on the share price was applied.
After the issue of the shares to the employees, the company’s share capital will be NOK 118,213,597.50 divided into 788,090,650 registered shares each with a nominal value of NOK 0.15.
The following primary insiders participated in the program:
CFO Derek D’Antilio will acquire 136,479 shares instead of USD 17,500 in cash compensation. After the transaction, Mr D’Antilio will hold 486,479 shares and 2,000,000 incentive subscription rights to shares in IDEX.
CTO Anthony Eaton will acquire 181,041 shares instead of GBP 18,915 in cash compensation. After the transaction, Mr Eaton will hold 181,041 shares and 1,452,800 incentive subscription rights to shares in IDEX.
SVP Sales & Marketing David Orme will acquire 186,640 shares instead of GBP 19,500 in cash compensation. After the transaction, Mr Orme will hold 389,640 shares and 2,208,600 incentive subscription rights to shares in IDEX.
EVP Advanced Technology and Strategy Stan Swearingen will acquire 718,464 shares instead of USD 92,125 in cash compensation. After the transaction, Mr Swearingen will hold 1,118,464 shares and 8,015,900 incentive subscription rights to shares in IDEX.
For further information contact:
Marianne Bøe, Investor Relations
Tel: + 47 918 00186
Derek D’Antilio, Chief Financial Officer
Tel: +1 197 827 31344
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