The Board of Directors of Initiator Pharma A/S, company reg. (CVR) no. 37663808, (“Initiator” or the “Company”) has today resolved to carry out a capital increase directed at members of executive management and key management under the long term incentive program for 2021 (“LTI2021-program”) and to conduct a directed buyback of shares in order to sell shares to the board of directors under the LTI2021-program.
The company’s board has today decided on the allocation of Performance Shares in accordance with terms of the LTI2021-program. In this connection, the Company has received subscription commitments from members of the executive management and key management, as well as a request to purchase existing shares from certain members of the Board of Directors. As such, the Board of Directors has today conducted a capital increase and decided to implement a share buy back directed at members of management as further described below.
The overall purpose of the Company’s incentive programs is to align the interests of the participants with the interests of the shareholders and thereby ensure a maximum long-term, value-creating commitment. It is also considered to create a long-term focus on increased earnings and growth among the participants in the program. Furthermore, incentive programs are considered to make it easier for the Company to recruit and retain key personnel.