The Board of Directors in Sivers Semiconductors resolves on a directed share issue to the CEO and proposes an incentive program for the Group's employees
Sivers Semiconductors AB (Nasdaq Stockholm: SIVE) has announced two key initiatives: a directed share issue to the CEO and an incentive program for employees. The Board has resolved to issue 1,524,584 ordinary shares to CEO Vickram Vathulya, worth about 6.9 million SEK, at 4.536 SEK per share. This will increase the company's total shares by 0.6%. Additionally, the Board proposed an incentive program (P09) offering up to 7,500,000 stock options to employees, potentially diluting shares by 3.8%. The CEO is set to receive 2,000,000 options, conditional on purchasing at least 2 million shares or investing up to $1 million. These initiatives aim to boost the CEO's commitment and motivate employees, while strengthening the company's working capital.
Sivers Semiconductors AB (Nasdaq Stockholm: SIVE) ha annunciato due iniziative chiave: un'emissione di azioni diretta al CEO e un programma di incentivi per i dipendenti. Il Consiglio ha deciso di emettere 1.524.584 azioni ordinarie al CEO Vickram Vathulya, del valore di circa 6,9 milioni di SEK, ad un prezzo di 4,536 SEK per azione. Questo aumenterà il totale delle azioni dell'azienda dello 0,6%. Inoltre, il Consiglio ha proposto un programma di incentivi (P09) che offre fino a 7.500.000 opzioni azionarie ai dipendenti, potenzialmente diluendo le azioni del 3,8%. Il CEO riceverà 2.000.000 opzioni, a condizione di acquistare almeno 2 milioni di azioni o investire fino a 1 milione di dollari. Queste iniziative mirano a incrementare l'impegno del CEO e motivare i dipendenti, oltre a rafforzare il capitale circolante dell'azienda.
Sivers Semiconductors AB (Nasdaq Estocolmo: SIVE) ha anunciado dos iniciativas clave: una emisión de acciones dirigidas al CEO y un programa de incentivos para los empleados. La Junta ha resuelto emitir 1.524.584 acciones ordinarias al CEO Vickram Vathulya, con un valor de aproximadamente 6,9 millones de SEK, a un precio de 4,536 SEK por acción. Esto aumentará el total de acciones de la empresa en un 0,6%. Además, la Junta propuso un programa de incentivos (P09) que ofrece hasta 7.500.000 opciones sobre acciones para los empleados, potencialmente diluyendo las acciones en un 3,8%. El CEO recibirá 2.000.000 opciones, condicionado a la adquisición de al menos 2 millones de acciones o a la inversión de hasta 1 millón de dólares. Estas iniciativas tienen como objetivo aumentar el compromiso del CEO y motivar a los empleados, al tiempo que refuerzan el capital de trabajo de la empresa.
Sivers Semiconductors AB (나스닥 스톡홀름: SIVE)는 두 가지 주요 이니셔티브를 발표했습니다: CEO를 위한 주식 발행 및 직원 인센티브 프로그램. 이사회는 Vickram Vathulya CEO에게 약 690만 스웨덴 크로나에 해당하는 1,524,584주의 보통주를 주당 4.536 SEK의 가격으로 발행하기로 결정했습니다. 이는 회사의 총 주식 수를 0.6% 증가시킬 것입니다. 또한, 이사회는 직원에게 최대 7,500,000주 옵션을 제공하는 인센티브 프로그램(P09)을 제안하여, 주식이 3.8% 희석될 수 있습니다. CEO는 최소 200만 주를 구매하거나 최대 100만 달러를 투자하는 조건으로 2,000,000개의 옵션을 받을 예정입니다. 이러한 이니셔티브는 CEO의 헌신을 높이고 직원을 동기 부여하며, 동시에 회사의 운영 자본을 강화하는 것을 목표로 합니다.
Sivers Semiconductors AB (Nasdaq Stockholm: SIVE) a annoncé deux initiatives clés : une émission d'actions dirigée au CEO et un programme d'incitations pour les employés. Le Conseil a décidé d'émettre 1 524 584 actions ordinaires au CEO Vickram Vathulya, d'une valeur d'environ 6,9 millions de SEK, à un prix de 4,536 SEK par action. Cela augmentera le nombre total d'actions de l'entreprise de 0,6 %. De plus, le Conseil a proposé un programme d'incitations (P09) offrant jusqu'à 7 500 000 options d'achat d'actions aux employés, ce qui pourrait diluer les actions de 3,8 %. Le CEO devrait recevoir 2 000 000 options, sous condition d'acheter au moins 2 millions d'actions ou d'investir jusqu'à 1 million de dollars. Ces initiatives visent à renforcer l'engagement du CEO et à motiver les employés, tout en renforçant le fonds de roulement de l'entreprise.
Sivers Semiconductors AB (Nasdaq Stockholm: SIVE) hat zwei wichtige Initiativen angekündigt: eine gezielte Aktienemission an den CEO und ein Anreizprogramm für die Mitarbeiter. Der Vorstand hat beschlossen, 1.524.584 Stammaktien im Wert von etwa 6,9 Millionen SEK zu einem Preis von 4,536 SEK pro Aktie an CEO Vickram Vathulya auszugeben. Dies wird die Gesamtzahl der Aktien des Unternehmens um 0,6 % erhöhen. Darüber hinaus schlug der Vorstand ein Anreizprogramm (P09) vor, das Mitarbeitern bis zu 7.500.000 Aktienoptionsscheine anbieten könnte, was die Aktien um 3,8 % verwässern könnte. Der CEO soll 2.000.000 Optionen erhalten, wobei die Bedingung besteht, mindestens 2 Millionen Aktien zu kaufen oder bis zu 1 Million US-Dollar zu investieren. Diese Initiativen zielen darauf ab, das Engagement des CEOs zu stärken und die Mitarbeiter zu motivieren, während auch das Betriebskapital des Unternehmens gestärkt wird.
- CEO Vickram Vathulya's increased investment of 6.9 million SEK demonstrates confidence in the company
- The share issue will strengthen the company's working capital
- The proposed incentive program aligns employee interests with company performance
- The incentive program's performance condition is based on the Group's net sales growth, encouraging revenue expansion
- The directed share issue and incentive program will dilute existing shareholders by up to 4.4%
- The CEO's stock options are conditional on a significant personal investment, which may pose a risk
The Directed Issue
Vickram Vathulya, who took office as CEO of Sivers on 19 August 2024, has expressed interest in increasing his commitment to the Company through a larger investment where the invested amount is added to the Company. The Board has assessed that the Directed Issue to Vickram Vathulya increases his motivation and commitment to the Company, while the issue proceeds will strengthen the Company's working capital.
The Board has therefore resolved, subject to approval by an extraordinary general meeting on 11 October 2024, to carry out the Directed Issue comprising 1,524,584 ordinary shares, corresponding to approximately
Through the Directed Issue, the number of shares in the Company will increase by a maximum of 1,524,584 shares, from 235,884,460 shares to 237,409,044 shares, and the share capital will increase by a maximum of
Incentive Program
In addition to the Directed Issue, the Board has proposed, as previously communicated, that the Extraordinary General Meeting resolves on an incentive stock option program intended for the Group's employees ("P09"). The Board of Directors proposes that P09 shall consist of a maximum of 7,500,000 new stock options (the "Stock Options") entitling to purchase of the same number of shares in the Company, corresponding to approximately 3.8 per cent of the share capital and votes in the Company after dilution. In total, the proposed P09 and the previous outstanding incentive programs corresponds to a dilution of not more than approximately 6.3 per cent of the share capital and votes of the Company after dilution.
The final number of Stock Options that the participants in
The Stock Options shall be granted to the participants free of charge and may not be transferred or pledged. The Stock Options are vested after three years from the date of grant of the Stock Options, i.e. the participant must remain employed within the Group for three years in order for all Stock Options to vest.
The CEO is proposed to be allocated 2,000,000 Employee Stock Options within P09. However, Stock Options granted to the CEO will be conditional upon purchase or subscription of at least 2 million ordinary shares in the Company, however limited to
Each Stock Option entitles the employee to acquire one share of Sivers Semiconductors during the period commencing on the third anniversary of date of grant and ending on the fifth anniversary of the date of grant at a price corresponding to 130 percent of the average volume-weighted share price for the Company's share on Nasdaq Stockholm for the date of granting the Stock Options to the participant.
To implement the P09 in a cost-effective and flexible manner, the Board of Directors proposes that the obligations of the Company to deliver shares under the Stock Options are secured by an authorisation for the Board of Directors to resolve upon issue, repurchase and transfer of shares of series C which thereafter can be converted into ordinary shares.
For more information, please refer to the notice of the Extraordinary General Meeting which will be published through a separate press release.
Advisers
Setterwalls Advokatbyrå AB acts as legal adviser to the Company.
For more information, please contact:
Dr. Bami Bastani, Chairman of the Board of Directors
Tel: +1 908 87 28 370
E-mail: bami.bastani@sivers-semiconductors.com
Sivers Semiconductors AB (SIVE.ST) is a leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that drives innovation in global communications and sensor technology. Our business units, Photonics and Wireless, supply cutting-edge, integrated chips and modules critical for high-performance gigabit wireless and optical networks. Catering to a broad spectrum of industries from telecommunication to aerospace, we fulfill the increasing demand for computational speed and AI application performance, replacing electric with optical connections for a more sustainable world. Our wireless solutions are forging paths in advanced SATCOM/5G/6G systems, while our photonics expertise is revolutionizing custom semiconductor photonic devices for optical networks and optical sensing, making us a trusted partner to Fortune 100 companies as well as emerging unicorns. With innovation at our core, Sivers Semiconductors is committed to delivering bespoke, high-performance solutions for a better-connected and safer world. Discover our passion for perfection at www.sivers-semiconductors.com.
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