Equinor Announces Employee Incentive Plan with Share Repurchase Program

Equinor Announces Employee Incentive Plan with Share Repurchase Program

(IN BRIEF) Equinor ASA has initiated a share repurchase program for its employee incentive plans, scheduled from February 15, 2024, to January 15, 2025. Authorized at the annual general meeting in May 2023, the program allows for the acquisition of up to 11,000,000 shares from the market at prices ranging from NOK 50 to NOK 1,000 per share. The total purchase amount is NOK 1,156,000,000, with a maximum of 16,800,000 shares to be acquired. These shares will be utilized to fulfill obligations towards participating employees and will be repurchased on the Oslo Stock Exchange in compliance with relevant regulations and guidelines.

(PRESS RELEASE) STAVANGER, 7-Feb-2024 — /EuropaWire/ —  Equinor ASA (OSE:EQNR, NYSE:EQNR), an oil, gas, wind and solar energy company active in more than 30 markets globally, announced on February 7, 2024, that it has enlisted a third party to conduct share repurchases for the company’s share-based incentive plans aimed at employees and management. This initiative spans from February 15, 2024, to January 15, 2025.

The acquisition of shares during the period from February 15, 2024, to May 15, 2024, is based on the authorization granted at the annual general meeting held on May 10, 2023, and registered in the Norwegian register for business enterprises.

As per the authorization, the buyback program allows for the acquisition of up to 11,000,000 shares from the market, with a minimum price of NOK 50 per share and a maximum price of NOK 1,000 per share. Post May 15, 2024, any further share buybacks are contingent upon new authorization from the annual general meeting in 2024.

The buyback program is structured with specific purchase dates between February 15, 2024, and January 15, 2025, with predetermined purchase amounts on each date as outlined in the program.

The total purchase amount under the program is NOK 1,156,000,000, with a maximum of 16,800,000 shares to be acquired. Of these, up to 7,400,000 shares may be acquired from February 15, 2024, to May 15, 2024, and up to 9,400,000 shares from May 16, 2024, to January 15, 2025.

These shares will be utilized to fulfill obligations towards employees participating in Equinor’s share-based incentive plans.

The share repurchases will be executed on the Oslo Stock Exchange in compliance with applicable safe harbor conditions, Norwegian Securities Trading Act of 2007, EU Commission Regulation (EC) No 2016/1052, and the Oslo Stock Exchange’s Guidelines for buyback programs and price stabilization issued in February 2021.