Norwegian ferry group Fjord1 is buying back stock to award to its top management.
The Per Saevik-backed owner said it can repurchase up to 3.2m shares worth NOK 139.2m ($16.33m) at the current price of NOK 43.50.
But for the purposes of the reward scheme, it will acquire up to 110,000 shares by 20 December.
These will be given to managers under its bonus scheme, which stipulates half of any awards be made in stock.
Nordea Markets will carry out the repurchase programme.
