Cellcom Israel Ltd. Announces Options Grant

Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) announced the granting of approximately 4.03 million options under its 2015 Share Incentive Plan to senior employees. The options will vest in three equal installments over three years with varying exercise prices: NIS 13.16 for the first, NIS 14.21 for the second, and NIS 15.40 for the third. The first installment can be exercised within 18 months post-vesting, while the second and third can be exercised within 12 months. The company filed its annual report on March 23, 2020, detailing this incentive plan.

NETANYA, Israel, June 16, 2020 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that the Company's board of directors resolved to grant approximately 4.03 million options under the Company's 2015 Share Incentive Plan, to certain non-directors office holders (preceded by the Company's compensation committee's resolution to that end) and senior employees, to be vested in three equal installments on each of the first, second and third anniversary of the grant at an exercise price of NIS 13.16 for the first installment, NIS 14.21 for the second installment and NIS 15.40 for the third installment. The options of the first installment may be exercised within 18 months from their vesting, and the options of the second and third installments may be exercised with 12 month from their vesting.

For additional details see the Company's most recent annual report for the year ended December 31, 2019 on Form 20-F, filed on March 23, 2020, under Item 6. Directors, senior management and employees –E. Share Ownership – Share Incentive Plan".

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is a leading Israeli communications group, providing a wide range of communications services. Cellcom Israel is the largest Israeli cellular provider, providing its approximately 2.747 million cellular subscribers (as at March 31, 2020) with a broad range of services including cellular telephony, roaming services for tourists in Israel and for its subscribers abroad, text and multimedia messaging, advanced cellular content and data services and other value-added services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an LTE 4 generation network and an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Cellcom Israel further provides OTT TV services, internet infrastructure and connectivity services and international calling services, as well as landline telephone services in Israel. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://investors.cellcom.co.il.

                                                                                                                             

Company Contact Shlomi Fruhling Chief Financial Officer investors@cellcom.co.il Tel: +972 52 998 9735

Investor Relations Contact Ehud Helft GK Investor & Public Relations  In partnership with LHA cellcom@GKIR.com Tel: +1 617 418 3096

 

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SOURCE Cellcom Israel Ltd.

FAQ

What is the recent stock option grant by Cellcom Israel Ltd.?

Cellcom Israel Ltd. has granted approximately 4.03 million options to senior employees under its 2015 Share Incentive Plan.

How will the options granted by Cellcom Israel be vested?

The options will vest in three equal installments over three years.

What are the exercise prices for the options granted by Cellcom Israel?

The exercise prices are NIS 13.16 for the first installment, NIS 14.21 for the second, and NIS 15.40 for the third.

When can the options granted to Cellcom Israel employees be exercised?

The first installment can be exercised within 18 months of vesting, while the second and third can be exercised within 12 months.

Where can I find more information about Cellcom Israel's incentive plan?

More details can be found in Cellcom Israel's most recent annual report filed on March 23, 2020.