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Southern Energy Corp. Announces Stock Option and Restricted Share Award Grant
CALGARY, AB / ACCESSWIRE / September 12, 2022 / Southern Energy Corp. (" Southern " or the "...
About this update from Southern Energy Corp.
[{"type":"text","content":"Southern Energy Corp. Announces Stock Option and Restricted Share Award GrantCALGARY, AB / ACCESSWIRE / September 12, 2022 / Southern Energy Corp. (\"Southern\" or the \"Company\") (TSXV:SOU) (AIM:SOUC), a U.S.-focused, growth-oriented natural gas producer, announces that pursuant to the Company's Stock Option Plan and Share Award Incentive Plan, an aggregate of 4,000,000 stock options (\"Options\") to purchase common shares of the Company (\"Common Shares\") and 2,495,700 restricted share awards (\"RSAs\") were granted as part of Southern's overall compensation and employee retention prograThe Options expire in five years from the date of the grant and are exercisable at a price of CAD$1.01 per Common Share, being the closing market price on the TSXV on the day prior to this announcement. The Options vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date. The RSAs vest as to one third on each of the first, second and third anniversaries of the grant date. On the vesting dates of such RSAs, the holder is entitled to receive a cash payment or its equivalent in fully paid Common Shares, at the Company's discretion, equal to the closing market value per Common Share on the TSXV on the business day prior to such payment.In aggregate, 2,230,000 of the Options and 914,800 of the RSAs were issued to directors and persons discharging managerial responsibilities (\"PDMR\") of the Company, as set out below:PDMRPositionOptions AwardedRSAs AwardedIan AtkinsonPresident and CEO (Director)550,000234,400Calvin YauCFO420,000220,300Gary McMurrenCOO420,000220,300Paul BaayNon-Executive Director105,00029,975Bruce BeynonNon-Executive Director105,00029,975Michael KohutNon-Executive Director105,00029,975Tamara MacDonaldNon-Executive Director105,00029,975Andrew McCreathNon-Executive Director105,00029,975Joseph NallyNon-Executive Director105,00029,975Neil SmithNon-Executive Director105,00029,975Steven SmithNon-Executive Director105,00029,975For further information about Southern, please visit our website at www.southernenergycorp.com or contact:Southern Energy Corp.Ian Atkinson (President and CEO) +1 587 287 5401Calvin Yau (CFO) +1 587 287 5402Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman / Rob Patrick+44 (0) 20 7409 3494Canaccord Genuity - Joint Broke...