Flex LNG - Announces Long-term Incentive Plan

Core Points - Flex LNG Ltd has approved a long-term incentive plan (LTIP) granting up to 187,142 synthetic options to management and employees, with a five-year term expiring on June 24, 2030 [1] - The synthetic options have an exercise price of USD 23.75, which will be adjusted for any dividends distributed before exercise [1] - The vesting schedule for the synthetic options is one-third on June 24, 2026, one-third on June 24, 2027, and one-third on June 24, 2028 [4] Compensation Structure - The synthetic options granted to the CEO and CFO are capped at a maximum annual gain equal to two times their annual base salary at the time of exercise [2] - Settlement of the synthetic options will be in cash, based on the difference between the market price of the Company's shares and the exercise price on the date of exercise [2] - The synthetic options are granted according to the rules of the Company's synthetic option scheme approved by the Board of Directors [2]