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

Role: Director
Signature: /s/ Daniel Steingart
Stock symbol: FREY
Transactions as of: Dec 31, 2023
Transactions value $: $0
Form type: 3
Date filed: 1/10/2024, 05:30 PM

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	50K	$7.68	Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of compensatory options which vest annually over three years granted on June 27, 2023 pursuant to the FREYR 2021 LTIP (as defined herein). One-third (1/3) of the shares subject to compensatory options shall vest on June 27, 2024. One-third (1/3) of the shares subject to compensatory options shall vest on June 27, 2025. One-third (1/3) of the shares subject to compensatory options shall vest on June 27, 2026. Options typically are not forfeited for directors once their directorship relationship ends.
F2	As described in the issuer's registration statement on Form S-4 (File No. 333-274434), 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, 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"), (continued on footnote 3)
F3	(continued from footnote 2) was assumed by the issuer and converted to a corresponding equity award with respect to shares of the issuer's common stock, par value $0.01 per share (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 of the Predecessor Registrant 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