Desert Control AS: DSRT: Share Option Grant to Executive Chairman and CEO

A total of 2,250,000 share options, equal to 4.2% of the total shares issued in the Company have been granted with 1,500,000 and 750,000 options to Mr. Eismark and Mr. Sivertsen respectively. The options will have a three-year vesting period, with initial vesting on the first anniversary of the option grant. Vesting is conditional on the option holder remaining engaged by the Company. For Mr. Eismark, the vesting of options is subject to continuing the position of Executive Chairman.

Subject to vesting, each option provides the option holder a right to subscribe or acquire one share in Desert Control AS at a strike price of NOK 5. The strike price is equal to the closing price for the Company's shares on Euronext Growth Oslo on 4 December 2024, which is the date of the grant. 

The option grant supports the company's transition and commitment to accelerating the development of its LNC technology, improving soil health, conserving natural resources, and creating long-term value through advanced R&D. The company's ambitions assume the services of highly competent key personnel and that Desert Control can provide attractive terms. With the option grant, the executive personnel will align their interests with shareholders to fuel further efforts toward sustainable growth and position the Company as a leader to deliver innovative, economical solutions to address global environmental challenges.

The option agreements set out further terms and conditions for the grant, including in case of termination of employment and cancellation of non-exercised options in case of breach of contract or bad leaver situations, accelerated vesting with respect to any change of control, adjustment events, and other customary provisions for such agreements. 

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