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FRO - Grant of synthetic options
Globenewswireยท 2025-05-27 20:30
Core Points - Frontline plc has granted 362,284 synthetic options to management and employees, with a five-year term expiring on May 27, 2030 [1] - The exercise price of the synthetic options is set at USD 16.8, based on the volume-weighted average price of the shares over the last 30 days prior to the grant [1] - The synthetic options will vest over a three-year period, with one-third vesting on May 27 of each year from 2026 to 2028 [4] - The synthetic options will be settled in cash, based on the difference between the market price of the shares and the exercise price at the time of exercise [2] - The CEO and CFO's synthetic options are subject to a cap on maximum annual gain, limited to two times their annual base salary at the time of exercise [1]