FRO - Share incentive program 2011
(Thomson Reuters ONE) -
The Board of Frontline Ltd. has approved a grant of 145,000 share options under
the terms of the existing Share Option Scheme. The purpose of the Share Option
Scheme is to promote long-term employment and align the long-term interest of
shareholders and senior employees. The share options will have a five-year term
and will vest equally one third each year over a three-year vesting period. The
strike price for the options has been set to NOK 131.10 per share. Out of the
total number of options 60,000 have been awarded to Primary Insiders.
The following Primary Insiders have received share options:
Jens Martin Jensen 20,000
Inger M. Klemp 20,000
Graham Baker 20,000
New total holdings for the same Primary Insiders are:
Shares Share options
Jens Martin Jensen 0 70,000
Inger M. Klemp 16,000 70,000
Graham Baker 0 50,000
April 8, 2011
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda
Questions should be directed to:
Jens Martin Jensen: Chief Executive Officer, Frontline Management AS
Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 00
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Frontline Ltd. via Thomson Reuters ONE
[HUG#1504983]
Unternehmensinformation / Kurzprofil:
Datum: 11.04.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 53352
Anzahl Zeichen: 2108
contact information:
Town:
Hamilton
Kategorie:
Business News
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"FRO - Share incentive program 2011"
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