Business
Long Term Incentive Plan Award
Long Term Incentive Plan Award.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 2289H\n Gulf Keystone Petroleum Ltd.\n 05 April 2022\n \n \n \n \n 5 April 2022\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 Director/PDMR Shareholdings\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 1 April 2022 (the \"Award Date\") awards over common shares (\"2022 Awards\") were granted to employees 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 fifth 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 2022 Awards was determined based on a price of 259p being the closing mid-market price of the Company on 30 March 2022. The vesting date for the 2022 Awards is 1 April 2025, being the third anniversary from the Award Date. The 2022 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 2022 Awards is subject to performance conditions which include the requirement for both absolute and relative total shareholder return (\"TSR\") targets being met. \n TSR will be measured over the period of three years from the \n Award Date\n . \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 2022 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 Jon Harris\n \n \n \n \n Chief Ex...