Flex LNG - Announces Long-term Incentive Plan
Flex LNG - Announces Long-term Incentive Plan
June 24, 2025
Hamilton, Bermuda
The Board of Directors of Flex LNG Ltd ("Flex LNG" or the "Company") has
approved a long-term incentive plan (the "LTIP") and hereby announces that up to
187,142 synthetic options have today been granted to management and employees of
the Company. The synthetic options will have a five-year term expiring June 24,
2030, and will vest over a three-year vesting period as follows:
* 1/3 of the synthetic options will vest on June 24, 2026
* 1/3 of the synthetic options will vest on June 24, 2027
* 1/3 of the synthetic options will vest on June 24, 2028
The exercise price of the synthetic options is USD 23.75. The exercise price
will further be adjusted for any distribution of dividends made before the
relevant synthetic options are exercised.
The synthetic options granted to the CEO and the CFO are subject to a cap on
maximum annual gain equal to two times the annual base salary at the time of
exercise of the synthetic options. The synthetic options will be settled in cash
based on the difference between the market price of the Company's shares and the
exercise price on the date of exercise. The synthetic options have been granted
according to the rules of the Company's synthetic option scheme approved by the
Board of Directors of the Company.
Please see the attached forms of notification of transactions by primary
insiders for the granting of the synthetic options.
This information is subject to the disclosure requirements pursuant to article
19 of Regulation EU 596/2014 (MAR) and section 5-12 of the Norwegian Securities
Trading Act.
The Board of Directors
Flex LNG Ltd