IDEX Biometrics Expands Incentive Plan with New Subscription Rights Grant

On 8 November 2023, the board of directors at IDEX Biometrics ASA, a significant player in the biometric authentication industry, announced a strategic move to strengthen its team by issuing incentive subscription rights. This action demonstrates a commitment to attracting and retaining top talent essential to the advancement and implementation of its groundbreaking technology.

Incentive Subscription Rights Issuance

IDEX Biometrics ASA, under its 2023 incentive subscription rights plan, authorized on 23 May 2023 at the annual general meeting, resolved to allocate 500,000 incentive subscription rights to a newly inducted individual contractor within the organization. This initiative aims to incentivize long-term dedication and alignment of interests between the contractor's objectives and the company's growth trajectory.

Subscription Rights Details

The newly issued subscription rights carry an exercise price of NOK 0.46 for each share, offering the holder the option to acquire shares in the company at this fixed rate. Adding a layer of vested interest, these rights are structured to vest incrementally, with 25% becoming exercisable each year over a four-year span, ensuring the holder's engagement and commitment over a reasonable period. These subscription rights will be valid until 23 May 2028, after which they will expire if unexercised.

Impact on IDEX Biometrics' Incentive Structure

Following the grant, IDEX Biometrics reports an outstanding count of 99,929,851 subscription rights under its incentive plan, pointing to a significant potential for future equity participation by its teammates. Among the recipients, the company's CFO, John Kurtzweil, is noted as a primary insider who was awarded 500,000 subscription rights at the stated exercise price. Such grants are integral to the company's strategy of aligning key personnel's performance with shareholder value creation.

IDEX Biometrics ASA operates on the MOOIF stock ticker, and its dedication to extending its leadership in biometric solutions is evident in such strategic personnel incentives. The company distinguishes itself through the development of proprietary sensor technologies, integrated circuit designs, and software catered to payment and digital authentication applications.

About IDEX Corporation

Notably, IDEX Corporation, which trades under the IEX stock ticker, is a distinct entity from IDEX Biometrics ASA, with its own specialized focus within the engineering sector. IDEX Corporation is renowned for its expertise in fluidics systems and specialty engineered products, maintaining its operations out of Northbrook, Illinois, and demonstrating its unique value proposition in the marketplace.

This formal notice of the subscription rights grant underlines the innovative and forward-looking approach of IDEX Biometrics ASA, as it continues to pursue excellence in the biometric authentication domain through strategic investment in its human capital.

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