Nordic Nanovector ASA - allocation of PSUs

OSLO, Norway, March 26, 2021 /PRNewswire/ -- The Board of Directors of Nordic Nanovector ASA ("Nordic Nanovector" or the "Company") has on 26 March 2021 decided to grant 1,070,000 Performance Share Units ("PSUs") to employees in accordance with the authorisation granted at the Annual General Meeting held on 10 June 2020 (the "AGM").

The terms and conditions of the PSUs, which are part of the Company's long-term incentive plan for employees, are described on pages 27-30 in the Company's annual report for 2019.

The PSUs are granted without consideration. The PSUs are non-transferable and will vest three years after the date of grant subject to satisfaction of the applicable vesting conditions. Each vested PSU will give the holder the right to acquire one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.20.

In accordance with the resolution at the AGM, the PSUs are secured by a corresponding number of free-standing warrants. The sole purpose of the warrants is to ensure delivery of shares in the Company upon exercise of the PSUs. The warrants do not give the PSU holders (or the option holders) a right to subscribe for any additional shares in the Company.

Of the 1,070,000 allocated PSUs, 455,000 PSUs have been granted to members of the Company's executive management. Peter Braun has been granted 350,000 PSUs. 20,000 PSUs have been granted to new employees and 245,000 PSUs have been granted to other current employees.

The following primary insiders were granted PSUs on 26 March 2021:

Peter Braun new CEO was granted 350,000 PSUs to be delivered when joining Nordic Nanovector. Peter Braun will hold 350,000 PSUs and 0 shares

Lars Nieba, interim CEO was granted 90,000 PSUs. Lars Nieba now holds 200,000 PSUs and 15,713 shares

Malene Brondberg, CFO was granted 90,000 PSUs. Malene Brondberg now holds 155,000 PSUs and 21,196 shares

Jostein Dahle, CSO was granted 45,000 PSUs. Jostein Dahle now holds 110,000 PSUs, 150,000 options and 204,958 shares including shares to related party

Marco Renoldi, COO was granted 45,000 PSUs. Marco Renoldi now holds 115,000 PSUs, 464,137 options and 92,888 shares

Rosemarie Corrigan, CQO was granted 45,000 PSUs. Rosemarie Corrigan now holds 110,000 PSUs and 2,436 shares

Gabriele Elbl, VP Global Regulatory Affairs was granted 45,000 PSUs. Gabriele Elbl now holds 95,000 PSUs and 0 shares

Christine Wilkinson Blanc, CMO was granted 95,000 PSUs. Christine Wilkinson Blanc now holds 95,000 PSUs, and 0 shares.

Fredrik Haavind, Head of Legal & Compliance was granted 25,000 PSUs. Fredrik Haavind now holds 50,000 PSUs, and 0 shares.

The PSUs allocated to the management of the Company is in accordance with the Board of Director's declaration on salaries and other remuneration to the senior executive management, as approved by the Company's AGM.

The total number of outstanding options and PSUs are now 1,344,467 and 1,744,500 respectively. Subject to all vesting conditions being fulfilled exercise of the options and PSUs would create a 3,14% dilution of the outstanding shares on a fully diluted basis.

Primary insider notifications pursuant to the Market Abuse Regulation article 19 are attached.

For further information, please contact:

Jan H. Egberts, Chairman

Cell: +31 6 1467 2518

Email: janegberts@aol.com

About Nordic Nanovector:

Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers. Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting antibody-radionuclide-conjugate designed to advance the treatment of non-Hodgkin's lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 26 billion by 2028. Nordic Nanovector retains global marketing rights to Betalutin® and intends to actively participate in the commercialisation of Betalutin® in the US and other major markets.

Further information can be found at www.nordicnanovector.com.

This information is subject to a duty of disclosure pursuant to the Market Abuse Regulation article 19 and 5-12 of the Securities Trading Act.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/nordic-nanovector/r/nordic-nanovector-asa---allocation-of-psus,c3315337

The following files are available for download:

View original content:http://www.prnewswire.com/news-releases/nordic-nanovector-asa--allocation-of-psus-301256825.html

SOURCE Nordic Nanovector