Business
Long Term Incentive Plan (“LTIP”) Award
Long Term Incentive Plan (“LTIP”) Award.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nGulf Keystone Petroleum Ltd (GKP)\n\n\n\n\n\n\nLong Term Incentive Plan (“LTIP”) Award 04-Apr-2025 / 07:00 GMT/BST\n\n\n \n\n4 April 2025\n\n \n\n \n\nGulf Keystone Petroleum Ltd. (LSE: GKP)\n\n(“Gulf Keystone”, “GKP” or “the Company”)\n\n \n\nLong Term Incentive Plan (“LTIP”) Award\n\nDirector/PDMR Shareholdings\n\n \n\n \n\nLTIP\n\n \n\nGulf Keystone announces that, pursuant to the Gulf Keystone Petroleum 2024 Long Term Incentive Plan (“LTIP”), on 1 April 2025 (the “Award Date”) awards over common shares (“2025 Awards”) were granted to employees and the persons discharging managerial responsibilities (\"PDMRs\") listed below.\n\n \n\nThe LTIP was approved by the Company’s shareholders at the Company's Annual General Meeting held on 21 June 2024, replacing the 2014 Long Term Incentive Plan. These are the second awards to be made under the new plan and are in accordance with the agreed annual issue cycle which follows release of the Company’s full year results. The awards have been made to eligible employees of the wider workforce, including to employees in Kurdistan.\n\n \n\nThe quantum of 2025 Awards was determined based on a price of 193.9p being the closing mid-market price of the Company on 31 March 2025. The vesting date for the 2025 Awards is 1 April 2028, being the third anniversary from the Award Date. The 2025 Awards are in the form of nil cost options and no consideration is payable for the grant of an award. \n\n \n\nPerformance Conditions \n\n \n\nVesting of the 2025 Awards is subject to performance conditions which include the requirement for both absolute and relative total shareholder return (“TSR”) targets being met. For the 2025 Awards, TSR will be measured over the three financial years of the Company commencing in the year of the Grant Date. 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\nAwards\n\n \n\nThe following PDMRs have been granted 2025 Awards under the LTIP:\n\n \n\n\n Name\n \n \n Position\n \n \n Number of awards\n \n \n Jon Harris\n \n \n Chief Executive Officer\n \n \n 513,873\n \n \n Gabriel Papineau-Legris\n \n \n Chief Financial Officer\n \n \n 287,00...