Hungary Mol COO exercises call option

Sándor Fasimon, COO of Mol Hungary exercised his cash-settled call option under the framework of the long-term management stock option incentive programme on 12,300 Mol “A" series ordinary shares on 4 January.

The strike price was HUF 17,977 on 6,600 shares, and HUF 11,777 on 5,700 shares. The settlement price was HUF 21,162 in both cases. The transaction did not generate any share movement.

A management stock incentive programme has been in place at Mol for years, with the following attributes:

• It covers a 5-year period starting annually, with the period being split into a 1-year granting period, a 1-year vesting period (when exercising Stock Options is not possible) and a 3-year exercising period. The Stock Option lapses if not exercised by December 31st of the last year.
• The strike price for Stock Options is defined before the granting period begins.
• The strike price is the average MOL share price in HUF on the Budapest Stock Exchange weighted with turnover.
• The exercise price is the average price of MOL shares in HUF on the Budapest Stock Exchange on the day of exercising.

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