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DFDS reports on award of shares to employees.

M2 EQUITYBITES-March 5, 2018-DFDS reports on award of shares to employees

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European shipping and logistics company DFDS A/S (CPH:DFDS) announced on Friday that in accordance with the guidelines for the remuneration of the board of directors and the executive board, as adopted by the Annual General Meeting on 21 March 2017, its CEO Niels Smedegaard was awarded 65,617 share options and CFO Torben Carlsen was awarded 49,213 share options on 2 March 2018.

Also, a total of 133,322 share options was awarded to a number of key employees.

According to the company, these share options vest with 1/36 per month from and including March 2018 and may be exercised in the period from February 2021 until February 2023.

DFDS added that this exercise price is based on the average quoted share price in the 20 trading days prior to and including 1 March 2018 to which 10% has been added, giving an exercise price of DKK383 per share of DKK20 nominal value.

In addition, these options are hedged against the company's own shareholding. The theoretical value of the share options is DKK7.6m, calculated according to the Black-Scholes model as described in DFDS' most recent annual report.

(EUR1.00=DKK7.44)

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Publication:M2 EquityBites (EQB)
Date:Mar 5, 2018
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