On July 17, the following transactions took place in Atea ASA (the Company):
1. Exercise and conversion of stock options
Employees of the Atea Group exercised stock options. Upon exercise, the stock options are converted into the right to receive ATEA shares of an equivalent intrinsic value. The intrinsic value is calculated based on the volume weighted average price of the ATEA share on the day preceding the exercise.
In total, 424,509 stock options with a weighted average strike price of NOK 118.25 were exercised and converted into the right to receive 79,944 Atea shares, based on the volume weighted average price of NOK 145.69 for the Atea share on July 16.
After withholding of income taxes, employees received rights to 42,786 shares in Atea ASA. Atea will transfer 42,786 of its own shares to fulfill the company's obligations.
2. Exercise and conversion of stock options by primary insiders
The following primary insiders exercised stock options:
Carl-Johan Hultenheim exercised 150,000 stock options at a strike price of NOK 118.25. Upon exercise, the options were converted into the right to receive 28,248 shares in the Company. After withholding of income taxes, he obtained the right to receive 12,994 shares.
Juha Sihvonen exercised 60,000 stock options at a strike price of NOK 118.25. Upon exercise, the options were converted into the right to receive 11,299 shares in the Company. After withholding of income taxes, he obtained the right to receive 6,102 shares.
Steinar Sønsteby exercised 125,000 stock options at a strike price of NOK 118.25. Upon exercise, the options were converted into the right to receive 23,540 shares in the Company. After withholding of income taxes, he obtained the right to receive 12,382 shares.
3. Transfer and sale of rights
The primary insiders above transferred their rights to receive shares to a third party. The payment has been determined based on a selling price of NOK 143.00 per share.
4. New holding
Carl-Johan Hultenheim holds 600,000 options, 14,194 shares, and 97 RSUs in the Company.
Juha Sihvonen holds 420,000 options, 223 shares, and 111 RSUs in the Company.
Steinar Sønsteby holds 1,000,000 options, 125,190 shares, and 95 RSUs in the Company. The shareholding includes shares held through his holding company SS Holding AS.
Atea ASA holds 836,405 of its own shares.
See details about the transactions for primary insiders on July 17 reported to Finanstilsynet enclosed.
For further information, please contact:
Steinar Sønsteby, CEO Atea ASA, mobile (+47) 930 55 655
Robert Giori, CFO Atea ASA, mobile (+47) 934 09 188