Nordic Nanovector ASA - allocation of PSUs

OSLO, Norway, March 11, 2022 /PRNewswire/ -- The Board of Directors of Nordic Nanovector ASA ("Nordic Nanovector" or the "Company") has on 10 March 2022 decided to grant 934,000 Performance Share Units ("PSUs") to employees in accordance with the authorisation granted at the Annual General Meeting held on 28 April 2021 (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 25-28 in the Company's annual report for 2020.

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 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.

The following primary insiders were granted PSUs on 10 March 2022:

Erik Skullerud, CEO was granted 110,000 PSUs. Erik Skullerud will hold 460,000 PSUs and 3,571 shares.

Sandra Jonsson, new COO was granted 110,000 PSUs. Sandra Jonsson will hold 110,000 PSUs and 3,571 shares.

Lars Nieba, CTO was granted 55,000 PSUs. Lars Nieba now holds 255,000 PSUs and 15,713 shares.

Malene Brondberg, CFO was granted 55,000 PSUs. Malene Brondberg now holds 197,233 PSUs and 23,767 shares.

Jostein Dahle, CSO was granted 55,000 PSUs. Jostein Dahle now holds 152,233 PSUs, 45,000 options and 204,958 shares including shares to related party

Gabriele Elbl, VP Global Regulatory Affairs was granted 55,000 PSUs. Gabriele Elbl now holds 150,000 PSUs and 0 shares.

Fredrik Haavind, Head of Legal & Compliance was granted 35,000 PSUs. Fredrik Haavind now holds 85,000 PSUs, and 0 shares.

The PSUs allocated to the management of the Company is in accordance with the Guidelines for executive remuneration, as approved by the Company's AGM.

The total number of outstanding options and PSUs are now 407,500 and 2,338,676 respectively. Subject to all vesting conditions being fulfilled, exercise of the options and PSUs would create a 2.31% 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: [email protected]

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 CD37-targeted therapies for haematological cancers and immune diseases. Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting radioimmunotherapy 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 27 billion by 2029. 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.

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SOURCE Nordic Nanovector