Birger Steen - Dec 31, 2023 Form 3 Insider Report for FREYR Battery, Inc. /DE/ (FREY)

Role
Chief Executive Officer, Director
Signature
/s/ Birger Steen
Stock symbol
FREY
Transactions as of
Dec 31, 2023
Transactions value $
$0
Form type
3
Date filed
1/10/2024, 05:29 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding FREY Shares of Common Stock 60K Dec 31, 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding FREY Stock Options (right to buy) Dec 31, 2023 Shares of Common Stock 601K $6.77 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the issuer's registration statement on Form S-4 (File No. 333-274434) (the "Registration Statement"), following the redomiciliation of FREYR Battery, the issuer's predecessor registrant (the "Predecessor Registrant") from Luxembourg to the State of Delaware on December 31, 2023 (the "Redomiciliation"), each of the issued and outstanding ordinary shares of the Predecessor Registrant ("Ordinary Shares") immediately prior to the Redomiciliation were canceled and the issuer issued as consideration therefor new duly authorized, validly issued, fully paid and non-assessable common stock of the issuer, par value $0.01 per share (the "Common Stock"), to the shareholders of the Predecessor Registrant on a one-to-one basis.
F2 Consists of compensatory options which vest annually over three years granted on August 21, 2023 pursuant to the FREYR 2021 LTIP (as defined herein). One-third (1/3) of the shares subject to compensatory options shall vest on August 21, 2024. One-third (1/3) of the shares subject to compensatory options shall vest on August 21, 2025. One-third (1/3) of the shares subject to compensatory options shall vest on August 21, 2026. Options typically are not forfeited for directors once their directorship relationship ends whereas options are typically forfeited when the employment relationship ends for employees.
F3 As described in the issuer's Registration Statement, following the Redomiciliation, each right and obligation under the Predecessor Registrant's equity-based benefit and compensation plans and programs and agreements providing for the grant or award of restricted stock, stock units, stock options, warrants, stock appreciation rights, performance shares, performance units, dividend equivalent rights, and share awards, including the FREYR 2021 Equity Incentive Plan (amended and restated as of May 10, 2023) (the "FREYR 2021 LTIP"), was assumed by the issuer and converted to a corresponding equity award with respect to shares of the Common Stock on a one-to-one basis and each equity or equity-based award granted under the Predecessor Registrant was canceled and the recipient had no right or interest in such award or any underlying Ordinary Shares other than receipt of a corresponding equity or equity-based award with respect to Common Stock.

Remarks:

Exhibit List Exhibit 24.1 - Power of Attorney