Harbour Energy plc has granted its chief executive officer and chief financial officer a total 1,455,398 performance share awards under the company’s 2017 long term incentive plan (LTIP).
The company granted CEO Linda Z. Cook (CEO) 947,955 shares awards and Alexander Kane (CFO) 507,434, each at an award price of £2.69.
The grants are in the form of contingent share awards over ordinary shares in Harbour and will only vest if certain performance targets are met over a three-year period from 1 January 2023 to 31 December 2025.
The awards were calculated using the average of the mid-market closing prices for the five dealing days preceding the award date.
DEFERRED AWARDS
Both executive directors were additionally granted deferred bonus awards in respect of 50% of the 2022 annual bonus awarded to them.
Ms Cook received 236,988 awards and Mr Krane 146,375, each at an award price of £2.69.
The deferred bonus awards are in the form of contingent share awards over ordinary shares in Harbour and will normally vest three years from date of grant.