Grant of restricted stock units (RSU) to the members of the board

April 21, 2024

Reference is made to the stock exchange announcement made by Thor Medical ASA (the "Company") the Company on 11 April 2024 whereby it was disclosed that the Company's annual meeting resolved ("AGM"), among other things, the approval of a restricted share units ("RSU") program.

At the AGM, the shareholders approved the remuneration to the Company's current board of directors whereby the board members were given the choice to receive their remuneration, or a part thereof, for the period from the AGM to the annual general meeting of 2025, in the form of restricted share units ("RSU"), as a part of the Company's RSU program.

Each board member had the following three alternatives:

•             Receive 100 % of the board remuneration in the form of RSUs;

•             Receive 1/3 of the board remuneration in cash and 2/3 in the form of RSUs; or

•             Receive 2/3 of the of the board remuneration in cash and 1/3 in the form of RSUs.

The board members have on 19 April 2024 notified the Company that they have chosen to receive 100 % of their board remuneration in the form of RSU's. The allocation is set out below:

  • Ludvik Sandnes, chairman of the board of directors, has been granted 401,938 RSUs;
  • John Andersen, board member, has been granted 344,518 RSUs; and
  • Mimi Kristine Berdal, has been granted 344,518 RSUs

The number of RSUs allocated to each board member has been determined based on the NOK value for the RSU-selected portion of the total compensation for the board member, divided by the volume weighted average share price of the 10 trading days prior to the grant date less the nominal value of the share.

The exercise of the RSUs is subject to, among other things, the respective board member being a part of the board of directors following the ordinary general meeting of 2025. 

Disclosure regulation

This information is required to be disclosed under Section 5-12 of the Securities Trading Act.


About Thor Medical ASA

Thor Medical is an emerging supplier of radionuclides, primarily alpha particle emitters, from naturally occurring thorium. Its proprietary production process requires no irradiation or use of nuclear reactors, and provides reliable, environmentally friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘TRMED’. 

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