BW LPG Limited – Accelerated Vesting of LTIP 2022 Options
15 Julio 2024 - 2:29AM
Business Wire
In 2022, the Board of Directors of BW LPG Limited ("BW LPG", the
"Company", OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”)
established a long-term incentive plan (the "LTIP 2022") for the
senior management and key employees of the Company. Details of LTIP
2022 can be found at:
https://www.bwlpg.com/media/press-release/bw-lpg-management-share-option-plan-ltip-2022-award-of-share-options/
Following a three-year vesting period, the first tranche of
share options granted on 1 March 2022 (“Share Options 2022”) under
LTIP 2022 is scheduled to vest on 1 March 2025. With the
dividend-adjusted strike price now less than NOK 1, the Company’s
Board of Directors has decided to grant an accelerated vesting for
the 503,889 outstanding options under Share Options 2022 for the
relevant participants. Therefore, these options will vest on 23
August 2024. The settlement of Share Options 2022 will be done via
the delivery of the Company’s treasury shares.
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels,
owning and operating Very Large Gas Carriers (VLGC) with a total
carrying capacity of over 3 million CBM. With five decades of
operating experience in LPG shipping, an in-house LPG trading
division and a growing presence in LPG terminal infrastructure and
distribution, BW LPG offers an integrated, flexible, and reliable
service to customers along the LPG value chain. More information
about BW LPG can be found at https://www.bwlpg.com.
BW LPG is associated with BW Group, a leading global maritime
company involved in shipping, floating infrastructure, deepwater
oil & gas production, and new sustainable technologies. Founded
in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels
transporting oil, gas and dry commodities, with its 200 LNG and LPG
ships constituting the largest gas fleet in the world. In the
renewables space, the group has investments in solar, wind,
batteries, biofuels and water treatment.
This information is subject to disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act.
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version on businesswire.com: https://www.businesswire.com/news/home/20240715427092/en/
Samantha Xu Chief Financial Officer E-mail:
investor.relations@bwlpg.com
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