Capricorn Energy plc granted nil-cost options over its ordinary shares of 735/143 pence each, as approved in 2017 by shareholders, to an executive director and PDMRs*.
Chief executive Randy Neely, who currently has 2,107 shares, received 571,428; chief operating officer Geoff Probert (none) 428,571 and commercial director Nathan Piper (3,676) 171,428.
The awards were of £1.75 per share, being the mid-market closing price of a share on the dealing day immediately preceding the grant date.
Vesting depends on specified performance conditions over a three-year period.
Following any vesting, Mr Neely’s award will be subject to a further two-year holding period during which it cannot be exercised.
Mr Probert’s award will be subject to a one-year holding period.
Mr Neely was also awarded 25% of his annual bonus in the form of 37,164 shares, each at £1.75, under Capricorn’s deferred bonus plan as agreed at the company’s 2023 general meeting.
Vesting at the end of a further period of three years is not subject to additional performance conditions.
*persons discharging managerial responsibilities