IDEX Biometrics: Subscription Rights Exchange Program 2 Oct 2020
The annual general meeting of IDEX Biometrics ASA on 15 May 2020 authorized that employees and individual contractors in IDEX who held incentive subscription rights under the Company’s incentive subscription rights programs 2016, 2017 and/or 2018 (Existing SRs), could receive replacement subscription rights (Replacement SRs) the against waiver of the Existing SRs.
The board resolved on 2 October 2020 to replace a combined total of 25,962,800 incentive SRs from the incentive plans for 2016, 2017 or 2018, by the same number of Replacement SRs under the Company’s 2020 Subscription Rights Incentive Plan. The outstanding number of SRs will remain unchanged at 55,993,593.
According to the resolution by the annual general meeting, the exercise price of the Replacement SRs is NOK 1.71 per share, and 1/3 of the Replacement SRs vest on 15 April 2021, 2022 and 2023. All replacement SRs expire on 15 May 2025.
The following primary insiders participated in the SR exchange program:
CTO Anthony Eaton waived 1,125,000 Existing SRs, and received the same number of Replacement SRs. After the transaction, Mr. Eaton holds 181,041 shares and 1,452,800 incentive subscription rights to shares in IDEX.
VP Finance Erling Svela waived 439,300 Existing SRs, and received the same number of Replacement SRs. After the transaction, Mr. Svela will holds 230,167 shares and 1,061,200 incentive subscription rights to shares in IDEX.
EVP Advanced Technology and Strategy Stan Swearingen waived 6,815,000 Existing SRs, and received the same number of Replacement SRs. After the transaction, Mr. Swearingen holds 1,118,464 shares and 8,015,900 incentive subscription rights to shares in IDEX.
Board member Lawrence John Ciaccia, in his capacity as adviser to the company, waived 600,000 Replacement SRs, and received the same number of Replacement SRs. After the transaction, Mr. Ciaccia holds 121,563 shares and 600,000 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