Wavr Tech has a warrant and employee stock option programme directed to senior executives and key individuals in the company.
The extra General Meeting in March 2020 resolved the board to issue 260,000 warrants to be offered to key individuals within Wavr Tech under a long-term incentive programme (the “ESOP2020-2024”). The warrants are to be transferred to the individuals at fair value, based on the Black & Scholes’ formula. The warrants are being vested over four years, and subject to a buyback clause, giving Wavr Tech the right to buy back warrants in certain circumstances.
Each 2020/2024 Warrant gives the holder the right to subscribe to one new share in Wavr Tech during Q2-2021 at a price of SEK 7,8; Q2-2022 at a price of SEK 10; Q2-2023 at a price of SEK 12 or finally Q22024 at a price of SEK 15.
The board of directors resolves on the final allotment of the 2020/2024 Warrants. The allotment will be assessed on an individual basis for the key individuals, taking into consideration the individual’s positions within the group and their respective total remuneration.
No participant in the programme will be offered to subscribe to more than 80,000 2020/2024 Warrants.