Norsk Hydro: Primary insiders purchase shares under Long-Term Incentive program and shares to employees

April 18, 2024 at 04:45 AM EDT

Members of Hydro’s Corporate Management Board and primary insiders have received shares in Hydro via the Long-Term Incentive plan and the employee share purchase program.

Long-Term Incentive plan

Norsk Hydro ASA has a share-based Long-Term Incentive (LTI) program in the form of a maximum remuneration of 30 percent of the annual base salary, dependent on two equally weighted performance metrics for the President and CEO, and the other members of the Corporate Management Board.

The two performance measures are 1.) Hydro's three year average adjusted RoaCE relative to Hydro's adjusted RoaCE target, with adjusted RoaCE based on market value of equity, and 2.) Hydro's three year Total Shareholder Return (TSR) relative to a group of peers.

The LTI payment is conditional on Hydro having a positive adjusted EBIT in the previous year. The participants will be required to invest the net amount after tax in Hydro shares and they must hold the shares for at least three years.

The list below sets out the primary insiders that on April 18, 2024, have been allocated Hydro shares under the LTI plan at NOK 56.48 per share.

Sale of shares to employees

Primary insiders in Hydro have also agreed to purchase shares under a general arrangement offered to employees employed by Hydro in Norway each year.

All employees in Norway have been offered to purchase shares valued at NOK 14,967.20, with a 50 percent discount. For employees taking part in this arrangement, the share price is NOK 28.24 per share, for 265 shares, and shares were transferred on April 18, 2024.

The following primary insiders have purchased shares under the LTI program and under the employee share plan:

Name	Position	Acquired shares LTI plan	Acquired shares employee share plan	New holding
Hilde Merete Aasheim	President & CEO	21 725	265	163 282
Arvid Moss	EVP, Hydro Energy	10 887	265	195 509
Eivind Kallevik	EVP, Hydro Aluminium Metal	12 227	265	97 874
Anne-Lene Midseim	EVP, Legal and Compliance	8 858	265	51 542
John Thuestad	EVP, Hydro Bauxite & Alumina	17 715	265	93 403
Hilde Vestheim Nordh	EVP, People & HSE	8 141	530*	44 038
Paul Warton	EVP, Hydro Extrusions	19 767		36 198
Therese Rød Holm	EVP, Communication & Public Affairs	7 327	265	8 869
Trond O. Christophersen	CFO (acting) & EVP, Corporate Development	9 111	265	15 148