Íslandsbanki hf.: Settlement of Transactions Relating to Employee Share Options
Íslandsbanki hf.: Settlement of Transactions Relating to Employee Share Options
Following the publication of Íslandsbanki’s 1H26 financial results on 29 August, employees of the Bank became entitled to exercise share option agreements entered into on 6 August 2025. Pursuant to these agreements, Íslandsbanki sold, and the Bank’s employees purchased, 6,397,210 shares at a price of ISK 126.4 per share, for a total consideration of ISK 808,607,438. The transaction involved treasury shares held by the Bank that had been acquired under previous share buyback programmes.
At the same time, 50 new share option agreements were made with an equal number of employees, covering 518,650 shares. These agreements were entered into under the Bank’s share option programme, pursuant to which the original share option agreements were executed on 6 August 2025. Under the 50 agreements now concluded, the relevant employees will be entitled to purchase shares in Íslandsbanki for up to ISK 1,500,000 per year throughout the term of the share option programme, following the publication of the Bank’s 1H26 financial results in 2027, 2028, 2029 and 2030. The purchase price of the shares is based on the weighted average price of Íslandsbanki shares during the ten trading days preceding the agreement date. Based on the trading period ending on 30 July, this price amounts to ISK 144.6 per share.