Atea Share Savings Program – Notification of Trade
In a move to encourage employee ownership and enhance engagement within the company, Atea ASA announced the launch of its Employee Share Savings Program (“Program”). This innovative initiative is designed to allow employees to invest a portion of their monthly after-tax salary to acquire shares in Atea ASA. The Program sets the maximum monthly investment limit to NOK 1,000 in Norway, SEK 1,000 in Sweden, DKK 700 in Denmark, and EUR 100 in Finland and the Baltic countries.
Employees participating in the Program buy shares directly from Atea ASA’s treasury holdings, with the purchase price pegged to the market rate. This price is specifically calculated based on the volume-weighted average price of ATEA shares on the last trading day before the share transfer occurs. To further incentivize participation, employees are awarded one bonus share for every two ordinary shares they purchase, subject to certain conditions. These include adhering to a vesting period—three years for executive management and two years for all other employees—and remaining employed by Atea throughout this period. These bonus shares are recognized as restricted stock units (RSUs) under the IFRS 2 Share-Based Payment framework.
As of now, 3,106 Atea employees have enrolled in the Program, which represents approximately 38% of the total Atea Group workforce. On February 12, these employees collectively purchased 68,318 shares from Atea’s treasury share holdings. The transaction was executed at NOK 128.26 per share, mirroring the volume-weighted average share price as of February 9, 2024. The total cost of these shares will be incrementally deducted from the participating employees’ after-tax salaries over February, March, and April. Following this transaction, Atea ASA now possesses 912,402 of its own shares.
Several of Atea’s primary insiders also partook in the February 12, 2024 share purchase, demonstrating their faith in the company’s future. These transactions not only reflect the internal confidence in the company’s direction but also align the interests of the employees with those of the shareholders at large. Among those who purchased shares were key figures across Atea’s operational regions, underscoring the widespread belief in the Program’s value and the company’s potential for growth.
The Share Savings Program is part of Atea’s broader strategy to integrate its workforce into the company’s financial and strategic fabric, fostering a shared sense of ownership and commitment to the company’s success. This initiative not only benefits employees through potential financial gains but also strengthens the company by aligning employee interests directly with business outcomes.
As Atea continues to evolve and expand, the Share Savings Program stands as a testament to the company’s innovative approach to employee engagement and financial inclusivity. By investing in its people, Atea cements its reputation as a forward-thinking, equitable, and dynamic participant in the global tech industry.
