Songa Offshore SE : Awards under the Long Term Incentive Program
(Thomson Reuters ONE) -
Reference is made to the press release as of 14 November 2014 regarding the Long
Term Incentive Program established for employees.
The Board of Directors has decided to award 109,651,000 restricted stock units,
corresponding to approximately 1.0% of the Company's outstanding shares, to
management and certain key personnel in the Songa Offshore Group. The holders
will get a right, upon vesting, to receive the awarded number of shares. The
first half of the awarded shares is vested on 1 July 2017 and the second half is
vested on 1 July 2018.
The following primary insiders have been awarded restricted stock units under
the new Long Term Incentive Program:
Bjørnar Iversen, CEO: 19,195,000 restricted stock units. Mr. Iversen now holds
4,986,474 shares in the Company in addition to the new award. Mr. Iversen
previously also held synthetic share options. These share options have been
surrendered and returned to the company for cancellation.
Jan Rune Steinsland, CFO: 14,053,000 restricted stock units. Mr. Steinsland now
holds 2,570,560 shares in the Company in addition to the new award. Mr.
Steinsland previously also held synthetic share options. These share options
have been surrendered and returned to the company for cancellation.
Mark Bessell, COO: 14,053,000 restricted stock units. Mr. Bessell now holds
735,482 shares in the Company in addition to the new award.
For the above members of the management, the new Long Term Incentive Plan has
set certain percentages of their annual base salary as minimum-holding
requirements, which shall be retained at all times during their employments.
25 November 2016
Limassol, Cyprus
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Songa Offshore SE via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.11.2016 - 08:50 Uhr
Sprache: Deutsch
News-ID 509104
Anzahl Zeichen: 2467
contact information:
Town:
Oslo
Kategorie:
Business News
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"Songa Offshore SE : Awards under the Long Term Incentive Program"
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