Business
Long Term Incentive Plan and Deferred Bonus Plan
Long Term Incentive Plan and Deferred Bonus Plan.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \n \n RNS Number : 3661L\n Gulf Keystone Petroleum Ltd.\n 29 April 2020\n \n \n \n \n \n \n \n 29 April 2020\n \n \n \n \n \n Gulf Keystone Petroleum Limited (LSE: GKP)\n \n \n (\"Gulf Keystone\" or \"the Company\")\n \n \n \n \n \n Long Term Incentive Plan (\"LTIP\") Award\n \n \n Issue under the Deferred Bonus Plan (\"DBP\")\n \n \n \n \n \n \n \n \n LTIP\n \n \n \n \n \n Gulf Keystone Petroleum Limited announces that pursuant to the 2014 Gulf Keystone Long Term Incentive Plan, on 28 April 2020 awards over Common Shares (\"2020 Awards\") were granted to staff and the persons discharging managerial responsibilities (\"PDMRs\") listed below.\n \n \n \n \n \n The LTIP was approved by Gulf Keystone Petroleum Limited's shareholders at the Company's Annual General Meeting held on 17 July 2014; this is the third award to be made under the LTIP and is in accordance with the agreed annual issue cycle which follows release of the Company's full year results. The awards are made to eligible employees of the wider workforce, including to employees in Kurdistan.\n \n \n \n \n \n The quantum of 2020 Awards was determined based on a price of 74.4p being the closing mid-market price of the Company on 27 April 2020. The vesting date for 2020 Awards is 28 April 2023, being the third anniversary from the award date. The 2020 Awards are in the form of nil cost options and vesting of them will be in accordance with performance conditions. No consideration is payable for the grant of an Award. \n \n \n \n \n \n Performance Conditions\n \n \n \n \n \n Vesting of the 2020 Awards is subject to both absolute and relative total shareholder return (\"TSR\") targets being met, each measure having a 50% weighting. \n TSR will be measured over the period of three years from the award date. \n In accordance with recent governance guidelines, the Remuneration Committee has the discretion to review vesting outcomes to ensure a fair reflection of performance.\n \n \n \n \n \n Awards\n \n \n \n \n \n The following PDMRs have been granted 2020 Awards under the LTIP:\n \n \n \n \n \n \n \n \n Name\n \n \n \n \n Position\n \n \n \n \n Number of awards\n \n \n \n \n \n \n Jane Barker\n \n \n \n \n HR Director\n \n \n \n \n 217,452\n \n \n \n...