Share Savings Plan
In 2014, Bakkafrost’s Board of Directors decided to establish a share savings plan for employees of the Group. The purpose of the plan is to strengthen the company culture and encourage loyalty through employees becoming shareholders of Bakkafrost.
Through regular salary deductions from the monthly net salary, employees may save up to 5% of their base salary for purchasing Bakkafrost shares. The employees’ purchase will be made from Bakkafrost’s treasury shares or on the market.
The employees’ subscription to Bakkafrost’s share savings plan commences at the beginning of a financial year, and the dates for employees’ purchase during the year are stipulated at the beginning of the year. An employee cannot change the savings percentage during the year, but may cancel the subscription at any time during the year.
After a lock-in period of two calendar years, one free share will be awarded by Bakkafrost for each share purchased according to the share savings plan. The awarded shares will be transferred from Bakkafrost’s treasury shares or purchased by Bakkafrost on the market.
The Board of Directors have the right to decide, in its sole discretion, whether or not the plan will be extended in the future and the terms of the plan.