Exercise of Stock Options in Spring 2025
Exercise of Stock Options in Spring 2025 – for Employees with a Stock Option Agreement
In May, the first exercise period of Festi’s share option program will open. All employees who signed a share option agreement in April 2024 can exercise their options. We will have an informational meeting on May 5, where we will cover the process, tax matters, and other details related to exercising share options.
💰 What do I need to do if I want to exercise my right?
• On 6 May, Festi will send a registration form to employees holding share options from 2024.
• You fill out the form and indicate the amount you want to invest (maximum ISK 500,000).
• You must submit the form between 6 May and 14 May 2025.
• You will receive a payment request in your online bank account on 15 May and payment must be made by 16 May.
• If you submit the form but fail to pay by the due date, your share option will transfer to the next exercise period.
• Shares are expected to be delivered to employees' custody accounts on 20 May.
🤔 What if I don’t want to exercise my option or if I do nothing?
• If you do not exercise your right, it will transfer to the next year.
• You can then purchase up to ISK 1,000,000 worth of shares in the next exercise period (2026).
• After the third (and final) exercise period (May 2027), the right expires.
🏦 Can I prepare now if I plan to exercise my share option?
• Yes, to receive your shares, you must have a securities custody account.
• You should check whether you already have one at your bank; if not, you will need to open one.
🧾 How do I open a securities/custody account?
• Everyone who plans to exercise their share options must have a custody account.
• You can open a custody account via your bank’s online banking or mobile app.
• When opening an account, you must complete a suitability and appropriateness assessment, which evaluates your eligibility to carry out financial transactions.
• You should complete the assessment truthfully to the best of your knowledge.
• If you are under 18 years old, your guardian must sign the investment services agreement on your behalf.
