From the Wires
Clavister Executives Invest in Incentive Program
By: PR Newswire
Dec. 15, 2017 02:25 AM
STOCKHOLM, Dec. 15, 2017 /PRNewswire/ -- Clavister executives have invested in the incentive program earlier resolved by the Annual General Meeting in April 2017. CEO and the executive management team have fully subscribed to the warrants allocated.
December 15, 2017, Örnsköldsvik, Sweden. Clavister (Nasdaq: CLAV), a leader in high-performance network security solutions, resolved on an incentive program of up to 300,000 warrants to executives in Clavister at the Annual General Meeting on the 27th of April 2017.
The 300,000 warrants have now been fully subscribed to, including full subscription by Clavister's CEO and the executive management team. The strike price is SEK 30 per share. The warrants are acquired at market conditions at a subscription price of SEK 2.06, determined from the Black & Scholes model by an independent third party. The incentive program, only allocated to Swedish executive employees, expires on the 30th of June 2020. At date of the resolution, the incentive program represented a maximum dilution of 1.3%.
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