Oslo, 14 April 2021: Adevinta ASA will during the coming days transfer a net amount of 103,502 own shares to employees in connection with the share based Incentive Plans, specifically the Transition Award related to the demerger from Schibsted ASA in 2019. In addition, 73,113 of its own shares were sold through a broker in the open market at an average price of NOK 129,27676 on the 12th and 13th of April 2021 to cover the participant’s tax liabilities in relation to the Incentive Programme.
The Transition Award has been established for the purpose of granting share awards to employees of Adevinta ASA and its subsidiaries. The purpose of the Plan was to align the interests of senior employees of the Group with those of the Company’s shareholders in connection with the demerger process from Schibsted ASA. A further description is available in Adevinta’s Annual Report 2021.
After the transactions, Adevinta holds 1,575,612 own shares.
Due to Adevinta ASA being in a “red period” ahead of its financial reporting for the first quarter of 2021, the transfer of shares to primary insiders has been postponed until after the release of the first quarter report.