TULLOW OIL PLC — Remuneration Information 2017

Apr 26, 2017

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RNS Number : 4486D

Tullow Oil PLC

26 April 2017

Tullow Oil plc ("Tullow" or the "Company")

Director/PDMR Notification

The Company announces certain transactions which have occurred under the Company's employee share plans in relation to the nil paid rights issued pursuant to the Company's rights issue which was announced on 17 March 2017 (the "Rights Issue").  In addition, certain adjustments have been made to awards made and/or held under the Company's employee share plans.

Share Incentive Plan

The following transactions occurred in respect of certain of the Company's PDMR's participation in the Tullow UK Share Incentive Plan.

Name and title of PDMR	Nil paid rights attached to SIP holding	Nil paid rights sold	Price nil paid rights sold on 6 April 2017	Nil paid rights retained and taken up	Price at which nil paid rights taken up on 24 April 2017
Paul McDade CEO	6,029	3,726	£0.803875	2,303	£1.30
Angus McCoss Exploration Director	3,492	2,158	£0.803875	1,334	£1.30
Ian Springett CFO	2,716	1,679	£0.803875	1,037	£1.30
Ian Cloke VP, New Ventures	3,322	2,053	£0.803875	1,269	£1.30
David Lawrie VP, North & West Africa	2,336	1,444	£0.803875	892	£1.30
Gary Thompson VP, East Africa	1,179	729	£0.803875	450	£1.30
Brian Williams VP, Corporate Finance	6,029	3,726	£0.803875	2,303	£1.30
Les Wood Interim CFO	453	280	£0.803875	173	£1.30

Tullow Incentive Plan awards

The following adjustments have occurred to certain of the Company's PDMRs' vested and unvested awards under the Tullow Incentive Plan ("TIP").  The adjustments have been calculated by an independent agent pursuant to the rules of the TIP.

Name and title of PDMR	Original award grant date	Additional awards pursuant to adjustment*
Aidan Heavey Chairman	19 February 2014 18 February 2015 11 February 2016	17,840 26,462 97,944
Paul McDade CEO	19 February 2014 18 February 2015 11 February 2016	10,088 14,966 55,390
Angus McCoss Exploration Director	19 February 2014 18 February 2015 11 February 2016	10,088 14,966 55,390
Ian Springett CFO	19 February 2014 18 February 2015 11 February 2016	10,712 15,890 58,814
Ian Cloke VP, New Ventures	19 February 2014 18 February 2015 11 February 2016	3,746 3,862 17,155
David Lawrie VP, North & West Africa	19 February 2014 18 February 2015 11 February 2016	4,515 5,296 23,529
Gary Thompson VP, East Africa	19 February 2014 18 February 2015 11 February 2016	1,518 5,602 24,887
Brian Williams VP, Corporate Finance	19 February 2014 18 February 2015 11 February 2016	5,681 5,692 25,286
Les Wood Interim CFO	18 February 2015 11 February 2016	4,634 23,631

*              The vesting date for each tranche of additional awards is the same as the vesting date for the underlying awards to which they have been added.

Tullow Employee Share Awards Plan awards

The following adjustments have occurred to certain of the Company's PDMRs' vested and unvested awards under the Tullow Employee Share Awards Plan ("ESAP").  The adjustments have been calculated by an independent agent pursuant to the rules of the ESAP.

Name and title of PDMR	Original award grant date	Additional awards pursuant to adjustment*
Ian Cloke VP, New Ventures	6 August 2015	4,793
David Lawrie VP, North & West Africa	6 August 2015	6,574
Gary Thompson VP, East Africa	6 August 2015	6,954
Brian Williams VP, Corporate Finance	6 August 2015	7,065
Les Wood Interim CFO	19 February 2014 6 August 2015	5,592 6,603

*              The vesting date for each tranche of additional awards is the same as the vesting date for the underlying awards to which they have been added.

Tullow Performance Share Plan 2005 awards

The following adjustments have occurred to certain of the Company's PDMRs' vested awards under the Tullow Performance Share Plan 2005 ("PSP").  The adjustments have been calculated by an independent agent pursuant to the rules of the PSP.

Name and title of PDMR	Original award grant date	Additional awards pursuant to adjustment*
Paul McDade CEO	15 May 2008 18 March 2009 17 March 2010	13,905 17,037 2,420
Ian Springett CFO	1 September 2008 18 March 2009 17 March 2010	11,930 18,091 2,569
Ian Cloke VP, New Ventures	18 March 2009 17 March 2010	3,250 665
Gary Thompson VP, East Africa	9 September 2013	5,440
Brian Williams VP, Corporate Finance	15 May 2008 18 March 2009 17 March 2010	7,255 7,123 1,267

*              The vesting date for each tranche of additional awards is the same as the vesting date for the underlying awards to which they have been added.

Tullow Deferred Share Bonus Plan 2005 awards

The following adjustments have occurred to certain of the Company's PDMRs' vested awards under the Deferred Share Bonus Plan 2005 ("DSBP").  The adjustments have been calculated by an independent agent pursuant to the rules of the DSBP.

Name and title of PDMR	Original award grant date	Additional awards pursuant to adjustment*
Paul McDade CEO	13 March 2008 18 March 2009 17 March 2010 18 March 2011 21 March 2012 22 February 2013	2,543 4,915 2,761 1,958 4,472 4,471
Ian Springett CFO	17 March 2010 18 March 2011 21 March 2012 22 February 2013	2,932 2,079 4,748 4,748

*              The vesting date for each tranche of additional awards is the same as the vesting date for the underlying awards to which they have been added.

Tullow Executive Share Option Scheme 2000 awards

The following adjustments have occurred to the following vested award under the Tullow Executive Share Option Scheme 2000 ("ESOS").  The adjustment has been calculated by an independent agent pursuant to the rules of the ESOS.

Name and title of PDMR	Original award grant date	Additional awards pursuant to adjustment*
Ian Cloke VP, New Ventures	13 March 2008	2,424

*              The vesting date for the additional awards is the same as the vesting date for the underlying award to which they have been added.

This information is provided by RNS

The company news service from the London Stock Exchange

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