Form 4: FREYR Battery CFO Receives 1,267,427 Restricted Stock Units

Joseph Evan Calio, CFO of FREYR Battery, Inc., was granted 1,267,427 Restricted Stock Units (RSUs) on June 13, 2024, which will vest ratably over three years.

Summary

• On June 13, 2024, Joseph Evan Calio, the Chief Financial Officer of FREYR Battery, Inc., received 1,267,427 Restricted Stock Units (RSUs).
• These RSUs were granted under the FREYR Battery, Inc. 2021 Equity Incentive Plan.
• The RSUs will vest in three equal installments: one-third on June 13, 2025, one-third on June 13, 2026, and the final one-third on June 13, 2027.
• Each RSU represents the right to receive one share of FREYR Battery's common stock.

Sentiment

Score: 7

Explanation: The document indicates a standard compensation practice, suggesting stability and alignment of management interests with shareholders. It's a neutral to slightly positive signal.

Positives

• The grant of RSUs to the CFO aligns his interests with those of the shareholders, incentivizing him to drive long-term value creation.
• The three-year vesting schedule encourages the CFO's continued commitment to the company.

Future Outlook

The vesting schedule indicates a long-term commitment by the CFO to the company's future.

Industry Context

Equity grants are a common practice in the battery industry to attract and retain key talent, especially in high-growth companies like FREYR Battery.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive sign, aligning management's interests with the company's long-term success.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates