On October 21, 2021 Targovax ASA ("Targovax" or the "Company") reported 20 October 2021 regarding the appointment of Erik Digman Wiklund as the new CEO of the Company (Press release, Targovax, OCT 21, 2021, View Source [SID1234591671]).

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The Board of Directors has resolved to grant 250,000 share options in the Company under the Company’s long term incentive program, each with a strike price of NOK 6.59, to Erik Digman Wiklund.

Following the grant of the 250,000 share options referred to above, Erik Digman Wiklund holds no shares and hold 1,000,000 options in the Company.

The options are granted without consideration. Pursuant to the vesting schedule, 25% of the options will vest 12 months after the day of grant (as long as the option holder is entitled to be part of the option program). Thereafter, 1/36 of the remaining options will vest each month as long as the option holder is entitled to be part of the option program, with the first 1/36 vesting 13 months after the day of grant. The exercise price is equal to the volume weighted average trading price of the shares of the Company on Oslo Børs on the date of the grant. Options that have not been exercised will lapse 7 years after the date of grant.

Reference is made to the attached notification of trading for further details.