Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, today announces that the company’s CEO, and other persons discharging managerial responsibilities, have divested warrants related to the long term incentive program LTI 2018.
The LTI 2018 incentive program was adopted by the AGM on 18 May 2018 and consists of six different series. Series 1-3 consists of warrants for which Sinch AB received an upfront, cash payment from each program participant. Series 4-6 consists of employee stock options which employees are awarded over time, and where no monetary consideration is paid to Sinch. Each warrant and stock option allows the holder to acquire 10 shares in Sinch. The warrants and stock options have a duration of three to five years, with exercise periods in 2021, 2022 and 2023.
In accordance with the European Market Abuse Regulation (MAR), transactions by CEO Oscar Werner and other persons discharging managerial responsibilities have been recorded with the Swedish Financial Supervisory Authority (Finansinspektionen). These transactions relate to warrants in Series 1.
For CEO Oscar Werner, divestment of 166,666 warrants has been recorded. After this transaction, he holds 333,334 warrants and 15,000 shares in Sinch.
Source: Sinch AB