VivoPower announces CEO stock purchase plans

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VivoPower is pleased to announce that our Executive Chairman and CEO, Kevin Chin, has elected to take all of a market-based adjustment to his chairman’s fee in VivoPower stock rather than cash. This follows a review by an independent external remuneration advisory group which determined the VivoPower board members were being paid materially below market levels for comparable companies. The total number of restricted stock units (RSUs) to be issued to Mr. Chin will be equivalent to 7,788 shares in accordance with the Company’s Omnibus Incentive Plan. In addition, the other non-executive directors of VivoPower have also elected to receive all but $2,000 of their adjusted board fees in RSUs, amounting to 7,788 shares each.

In addition, Mr. Chin intends to add to his stockholder ownership during open trading windows in the coming year.

Mr. Chin stated, “I intend to buy more of our stock as soon as the trading window opens, as do a number of my fellow board members. This reflects our increasing confidence in the Company’s outlook.”

To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.

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