Average fair value of granted options in 2022 was NOK 6.85 (2021: NOK 7.76), in total NOK 2.8 million (2021: NOK 5.5 million). Expensed costs in the resultat for share options programs in 2022 were NOK 2.6 million (2021: NOK 5.6 million). For calculation of fair value of granted options, Black & Scholes’s option pricing model is used. The value of vested options is recognized against other paid-in equity. The following assumptions are used in the calculation: Ǵ Share price at the time of the grant: The share price equals the listed price at Oslo Børs at the time of the grant, weighted average in 2022 was NOK 7.77 (2021: NOK 10.30) Ǵ Volatility: Historical volatility is expected to be an indication of future volatility. Expected volatility is therefore equal to historic volatility and was 46% in 2022 (2021: 35%). Ǵ Expiration of the option: The option’s expected maturity time was 5.0 years in 2022 (2021: 4.9 years). Ǵ Risk-free rate: Risk-free rate equals the interest rate on 5 year government bonds, i.e. average 2.42% in 2022 (2021: 1.05%). 62 Notes to the financial statements
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