Rockhopper Exploration plc Grant of Options (4236W)
April 26 2016 - 12:23PM
UK Regulatory
TIDMRKH
RNS Number : 4236W
Rockhopper Exploration plc
26 April 2016
26 April 2016
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Grant of options under Long Term Incentive Plan
Rockhopper Exploration plc announces that, on 22 April 2016,
awards of options were made to certain Directors under the
Company's Long Term Incentive Plan ("LTIP") which has been operated
annually since its approval by shareholders at the 2013 Annual
General Meeting.
The awards are structured as nil-cost options and, subject to
the achievement of performance conditions, will normally vest on 31
March 2019 subject to each director's continued employment.
The percentage of awards which will vest will be dependent
on:
1. Total shareholder return ('TSR') measured against a peer
group of 18 companies over a three year period; and
2. TSR measured against a peer group of 18 companies over a
three year period and conditional on the Company having taken a
Final Investment Decision on the Sea Lion Development by 31
December 2017
Awards will vest on a sliding scale from 35% for median
performance to 100% for top performance. No awards will vest for
performance below median.
TSR performance measurement for these awards will be based on
the Company's average share price over the 90 day dealing period to
31 March 2016 measured against the 90 day dealing period to 31
March 2019. Once vested the awards will normally remain exercisable
for a period of seven years subject to the rules of the LTIP
regarding leavers.
Details of the award are as follows:
Name Number Number Number Maximum
of options of options of shares number
subject subject that would of shares
to TSR to TSR vest for that could
performance and additional TSR performance vest subject
condition performance at median to achievement
(see 1 condition of performance
above) (see 2 conditions
above)
----------------- -------------- ----------------- ------------------ -----------------
Sam Moody
(CEO) 1,738,080 579,360 608,328 2,317,440
----------------- -------------- ----------------- ------------------ -----------------
Fiona MacAulay
(COO) 1,525,200 508,400 533,820 2,033,600
----------------- -------------- ----------------- ------------------ -----------------
Stewart
MacDonald
(CFO) 1,425,600 475,200 498,960 1,900,800
----------------- -------------- ----------------- ------------------ -----------------
The LTIP is operated in respect of each financial year at the
discretion of the Company's Remuneration Committee. A summary of
the LTIP is included in the 2013 AGM notice and the 2015 Annual
Report which can be found on the Company's website.
For further information, please contact:
Rockhopper Exploration plc
Tel: (via Vigo Communications) - 020 7830 9700
Sam Moody - Chief Executive
Fiona MacAulay - Chief Operating Officer
Stewart MacDonald - Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Joint Broker)
Tel: 020 7523 8000
Henry Fitzgerald-O'Connor
Liberum Capital (Joint Broker)
Tel: 020 3100 2227
Clayton Bush
Neil Elliot
Vigo Communications
Tel: 020 7830 9700
Patrick d'Ancona
Ben Simons
This information is provided by RNS
The company news service from the London Stock Exchange
END
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