Approval of Long-term Incentive Plan, Mandatory Notification of Trade
Hamilton, Bermuda, 10 September 2024 - The Board of Dirctor's of ParatusEnergyServices Ltd. (ticker "PLSV") ("Paratus" or the "Company") has today approvedalong-term incentive plan (the "Plan"). The Plan is structured in the form of ashare option program targeted at members of the executive management andselected board members. The initial strike price is set at NOK 51.7 per sharewhich aligns with the share price of the Initial Public Offering ("IPO") plusaperformance addition of 7.5% compound annual growth in the vesting period. Forany future grants under the Plan, the strike will be set at the discretion ofthe Board of Directors. The exercise price shall be adjusted for anydistribution on the shares made before the relevant options are exercised. Theoptions will have a five-year term and will vest in three tranches over threeyears with one-third each tranche.
The following primary insiders have been awarded options under the Plan:
o Robert Jensen, CEO has been awarded 420,000 options, divided into threetranches of 140,000 options per tranche at the initial strike price of NOK51.7.The value of each Vesting tranche shall be limited to USD 200,000. o Baton Haxhimehmedi, CFO, has been awarded 225,000 options, divided intothreetranches of 75,000 options per tranche at the initial strike price of NOK51.7.The value of each Vesting tranche shall be limited to USD 150,000.
Please find attached the mandatory notification of trade for the primaryinsiders.
This information is subject to the disclosure requirements in articles 19 oftheRegulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 oftheNorwegian Securities Trading Act.
About ParatusParatus Energy Services Ltd. (ticker: PLSV) is an investment holding companyofa group of leading energy services companies. The Paratus Group is primarilycomprised of its ownership of Fontis and a 50/50 JV interest in Seagems(formerly Seabras). Fontis is an offshore drilling company with a fleet offivehigh-specification jack-up rigs working under contracts in Mexico. Seagems isaleading subsea services company, with a fleet of six multi-purpose pipe-layingsupport vessels under contracts in Brazil. In addition, Paratus is the largestshareholder in Archer Ltd, a global oil services company, listed on the OsloStock Exchange.
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