Capricorn Energy plc awarded a total 646,202 nil cost options over its ordinary shares each of 490/143 to two directors under the long-term incentive plan approved by shareholders in 2017.
PERFORMANCE
Chief executive officer Randy Neely received 538,502 options, in accordance with the company’s directors’ remuneration policy approved at the 2023 general meeting.
Commercial director Nathan Piper received 107,700 options.
All shares were awarded at £1.857 per share, being the average mid-market closing price over the three dealing days prior to the date of the grant.
The vesting of the awards depends on specified performance conditions over a three-year performance period.
Following any vesting, the award granted to Mr Neely is subject to a further two-year ‘holding period’ during which it cannot be exercised.