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Eco (Atlantic) Oil and Gas Ltd. Announces Company Incentive Plan - Exercise of Options
Company Incentive Plan - Grant of RSUs & Exercise of Options TORONTO, ON / ACCESS Newsw...
About this update from Eco (atlantic) Oil & Gas Ltd.
[{"type":"text","content":"Eco (Atlantic) Oil and Gas Ltd. Announces Company Incentive Plan - Exercise of OptionsCompany Incentive Plan - Grant of RSUs & Exercise of Options TORONTO, ON / ACCESS Newswire / April 21, 2026 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSX‐V:EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, announces the issuance of Common Shares and Restricted Share Units (\"RSUs\") and stock options to certain directors, officers and consultants of the Company.Further to publication of the Company's Results for the three and nine months ended 31 December 2025 on 2 March 2026, all pre-existing Restricted Share Units (\"RSUs\") issued to certain directors and officers of the Company have vested and a total of 1,768,000 RSUs will be automatically converted into common shares in the capital of the Company (\"Common Shares\") (the \"RSU Conversion Shares\"). Of the RSUs vested 250,000 were issued to directors, 350,000 to officers and 1,168,000 to consultants.To recognize the recent achievements and performance of the management and technical team, as well as the Board, the Company has made an award under its Company Incentive Plan.In addition, the Company has also issued 6,537,500 RSUs to certain Executive and Non-Executive Directors, pursuant to the Eco's Omnibus Incentive Plan as approved at its Annual and Special Meeting held on 27 December 2024 (the \"Plan\") and as most recently approved by shareholders on 27 March 2026. The RSUs will automatically vest one year after the date of grant and convert into 6,537,500 common shares of the Company (\"Common Shares\").In addition, the Company announces that it has granted stock options to subscribe for 5,587,500 Common Shares at an exercise price of $CAD1.24 (£0.67) per Common Share (the \"Options\") to certain directors, officers and consultants of the Company. The Options vest in two tranches from the date of grant, 50% after the first anniversary from the date of grant and 50% after the second anniversary from the date of grant. The Options are exercisable, following vesting, at the recipient's discretion and expire five (5) years from the date of grant. The grants are made pursuant to the Company's rolling Omnibus Incentive Plan, which permits the issuance of up to 10% of the Company's issued and outstanding common shares. The options are subje...