Schibsted Media Group has allotted shares to participants in connection with the final outcome in the Group’s performance based share purchase program for 2011.
In the program, each participant is granted a defined Base Amount, which is a fixed percent of their fixed salary. 1/3 of the Base Amount (“Bonus Amount”) is awarded when the program starts in the form of Schibsted shares. 2/3 of the Base Amount (“Performance Amount”) is linked to three-year performance criteria. The number of shares allotted is based on the average share price over the program’s three years. These shares have now been allotted for the 2011 program. Reference is made to disclosure of allotment of shares published 1 July 2011.
Please find attached overview of the number of shares allotted to primary insiders through pay out of the Performance Amount related to the final settlement of the 2011 program, as well as their total holding of shares after this allotment.
The transfer of the shares is done in the coming days, and implies that Schibsted ASA transfers 32,766 treasury shares to employees of the Group. After this, Schibsted ASA holds 622,309 treasury shares.
For further details of Schibsted’s performance based share purchase program, please refer to the declaration on management remuneration in the Group’s annual report 2012, as approved by the Annual General Meeting on 30 April 2013.
Oslo, 11 April 2014
SCHIBSTED ASA
Jo Christian Steigedal
VP Investor Relations