Schibsted has allotted and transferred shares to participants in the Group’s performance based share acquisition programme for 2011.
In the share acquisition programme, each participant is granted a defined Basic amount, which is a fixed per cent of the basic salary. 1/3 of the Basic amount, after tax, must be used to acquire Schibsted shares. These shares are now allotted to the participants in the programme.
The rest, up to 2/3 of the amount, must be earned over a three years period. It will only be earned in full if certain financial results in the individual business unit are reached.
For further details of Schibsted’s performance based share acquisition programme, please refer to the Declaration regarding the determination of salary and other remuneration to managers in the Group’s annual report 2010.
The allotment is done in the coming days and implies that Schibsted ASA transfers 32,658 treasury shares to employees of the Group. After this, Schibsted ASA holds 239,055 treasury shares.
Please find attached overview of the number of shares allotted to primary insiders through pay out of the share acquisition programme’s Basic amount and their total holding of shares.
Oslo, 1 July 2011
Schibsted ASA
Jo Christian Steigedal
VP Investor Relations