Komplett Bank Annual Report 2020

Note 14 Share option programme The Bank has in 2020 and previous periods established a share option programme for all employees. The plan applies to both employ- ee’s fixed and any variable salary. The option value for the granted options is established based on the full market value calculated using observed trading prices at the grant date and Black & Scholes’s option pricing model. Risk-free interest, using 5-year government bonds, is used as a prerequisite in the calculation. The fixed price for exercising the positions is NOK 1 for all outstanding options. In the case of options granted in 2015 and later, there is also a variable price for exercising the positions, which is equivalent to the social security tax at the date of exercise. The value of vested options is recognised in other paid-in equity. The Bank has a bonus programme for all employees assessed as satisfying the requirements for variable remuneration plans. The com- pany’s variable salaries related to share options releases the options in accordance with Chapter 15 of the Act on financial institutions and financial groups, with regulations and other applicable regulations for bank remuneration plans. OVERVIEWOF GRANTED, EXERCISED AND OUTSTANDING OPTIONS 2020 2020 Outstanding options Outstanding options beginning of period 4,145,179 5,021,801 Adjustment of incoming balance - - + Granted options 2,117,533 630,969 - Exercised options -2,494,011 -1,507,591 - Lost options - - - Expired options - - Outstanding options end of period 3,768,701 4,145,179 Number of options Expiration date options 2021 804,674 2022 266,934 2023 186,438 2024 462,799 2025 2,047,856 Total 3,768,701 100 Notes to the financial statements