BlueNord ASA Announces Delivery of Executive Retention Shares

On September 19, 2025, BlueNord ASA, a prominent player in the energy sector, confirmed significant updates regarding its executive compensation strategy. This announcement follows a previous stock exchange notification from September 19, 2022, which detailed the initiation of a unique retention scheme for the management team. The scheme aimed to not only incentivize but also retain the top executives within the company by converting previous executive options into retention shares.

Background of the Retention Scheme

The retention scheme was established as a one-time measure to promote long-term commitment among the company's leadership. Under this plan, pre-existing options for executive management were cancelled and replaced with retention shares set to vest after a substantial three-year period. As of today, that vesting period has officially concluded, allowing eligible executives to fully realize their holdings.

Key Executive Beneficiaries

The vesting period's culmination has resulted in the allocation of thousands of shares to key executives:
- Euan Shirlaw, the Chief Executive Officer, will receive 31,553 shares at no cost. This delivery increases his total ownership in BlueNord to 45,114 shares. Additionally, under the Long-Term Incentive (LTI) program, he holds the right to acquire up to 23,229 shares, further cementing his stake in the company.
- Cathrine F. Torgersen, Chief Corporate Affairs Officer, is set to receive 10,522 shares, boosting her total ownership to 19,507 shares. She too has eligibility for up to 10,435 shares through the LTI program before tax implications.

These allocations are significant not just for the executives individually, but also for the overarching company strategy. The delivery of retention shares from BlueNord's treasury stock reflects the firm's commitment to aligning executive interests with those of the shareholders, thereby fostering an environment of growth and stability.

Impact on Company Shares

After delivering the retention shares, BlueNord will have a remaining total of 931,438 treasury shares in its possession. This strategic move enhances transparency within the company’s operational framework and demonstrates its ongoing commitment to sustainability and growth in leadership engagement.

Regulatory Compliance

This announcement and the subsequent deliveries are executed in accordance with the Market Abuse Regulation (MAR) and align with the Norwegian Securities Trading Act's disclosure obligations. These notifications are essential for maintaining the integrity and transparency expected by investors and stakeholders alike.

Conclusion

BlueNord ASA’s management initiatives, particularly concerning the retention shares, point to a forward-thinking approach to leadership investment and governance. As the company continues to navigate a competitive energy landscape, these developments indicate a strengthening of executive ties to company performance, encouraging a culture of long-term achievement and commitment moving forward. Investors and stakeholders are encouraged to observe the impact of these changes on BlueNord's market performance in the upcoming periods.

For further inquiries regarding this announcement, stakeholders can reach out to Cathrine Torgersen, Chief Corporate Affairs Officer, at +47 915 28 501 or via email at [email protected].