Össur hf. - Managers' transactions

Ossur Hf : New Share Option Program

Announcement from Össur hf. No.24/2015
Reykjavik, 27 May 2015

Össur - New Share Option Program

Today, Össur hf. implemented a new share option program for the CEO and
Executive Management, and managers in strategic positions. The purpose of the
share incentive program is to attract and retain management team and key leaders
and reward for the delivery of long-term strategy. That way the interest of the
shareholders and management are aligned and the Company is provided with
competitive compensation tool to drive and motivate team performance culture.
The key terms and conditions of the new share option program were approved by
the Annual General Meeting on 12(th) March 2015 in accordance with the Company's
Remuneration Policy.

Up  to 6,000,000 share options may be issued  and outstanding at each time under
the   share  option  program,  exercisable  into  the  same  amount  of  shares,
corresponding  to approximately 1.3 % of the total share capital of the Company.
At  this  time  1,800,000 share  options  have  been  granted;  1,300,000 to the
President  & CEO  and Executive  Management and  500,000 share options have been
granted  to managers  in strategic  positions. The  exercise price is DKK 21.88
determined  in accordance with the  terms of the share  option program, i.e. the
Company's  average share price on NASDAQ Copenhagen 20 trading days prior to the
grant  date. The options  shall vest in  3 years from the  grant date and can be
exercised for a period of one year during open trading windows.

Details  of  the  share  options  granted  to  the President & CEO and Executive
Management:



 Name           Position      Options Price Vesting           Total     Current
                                            date           options*    shares**
 Jón Sigurðsson President &   625,000 21.88
                CEO                         27 May        1,875,000     539,806
                                            2018

 Egill Jónsson  Executive VP  225,000 21.88 27 May          725,000     818,499
                M&O                         2018

 Ólafur         Executive VP  225,000 21.88 27 May          375,000       6,539
 Gylfason       Sales &                     2018
                Marketing

 Þorvaldur      Executive VP  225,000 21.88 27 May          725,000           0
 Ingvarsson     R&D                         2018





* Previously granted options have all vested.
** In addition Mr. Sigurðsson's financially linked parties hold 3,324 shares and
Mr. Jónsson's financially linked parties hold 4,250 shares.

Other key terms and conditions:

  * If the share options cannot be settled with shares, e.g. due to currency
    restrictions, the Company shall pay to the participants the difference of
    the exercise price and the market price on the day of exercise.
  * Participants are required to hold shares, corresponding to 5% of the profit
    gained of the share options after deduction of taxes, until their employment
    with the Company is terminated (if share settlement is possible).
  * In general, the share options will lapse if the participants are no longer
    employed with the Company. The Company may decide to waive this condition,
    including if a participant becomes disabled or dies.
  * The Company shall not grant any loans or guarantees to participants in
    connection with the share options.

The  Company's cost of the new share option program is estimated to be USD 1.17
million  a year for  the next three  years based on  the option pricing model of
Black-Scholes.

About Össur

Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopaedics that helps
people live a life without limitations. Its business is focused on improving
people's mobility through the delivery of innovative technologies within the
fields of braces, supports, prosthetic limbs and compression therapy. A
recognized "Technology Pioneer", Össur invests significantly in research and
product development; its award-winning designs ensuring a consistently strong
position in the market. Successful patient and clinical outcomes are further
empowered via Össur's educational programs and business solutions. Headquartered
in Iceland, Össur has major operations in the Americas, Europe and Asia, with
additional distributors worldwide. www.ossur.com

Forward-Looking Statements

This press release includes "forward-looking statements" which involve risks and
uncertainties that could cause actual results to differ materially from results
expressed or implied by these statements. Össur hf. undertakes no obligation and
does not intend to update these forward-looking statements to reflect events or
circumstances occurring after this press release. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this press release. All forward-looking statements are qualified in
their entirety by this cautionary statement.


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