TORM plc Long Term Incentive Program

Core Points - TORM plc has decided to grant restricted share units (RSUs) to certain employees and Executive Director Jacob Meldgaard as part of an Additional Retention Program [1][2] - A total of 1,293,434 RSUs will be granted, with a strike price of one US cent, vesting on October 1, 2028 [2] - Jacob Meldgaard will receive an additional 500,000 RSUs under the same terms [2] - The theoretical market value of the RSU allocation is estimated at USD 40 million based on the Black-Scholes model [3][6] - The RSU allocation is expected to impact the profit and loss statement with a total effect of USD 40 million spread across the years 2025 to 2028 [4] Financial Impact - The expected financial impact of the RSU allocation is detailed as follows: - 2025: USD 3.6 million - 2026: USD 13.3 million - 2027: USD 13.3 million - 2028: USD 9.7 million [4] - The allocation includes adjustment and acceleration provisions typical for restricted stock option programs [3] Company Overview - TORM is recognized as one of the leading carriers of refined oil products, operating a fleet of product tanker vessels [4] - The company emphasizes safety, environmental responsibility, and customer service [4] - TORM was founded in 1889 and is publicly listed on Nasdaq in Copenhagen and New York [4]