Business
Grant of Awards and Options / PDMR Notification
Pantheon Resources plc has updated its remuneration framework for persons discharging managerial responsibilities (PDMRs) to align executive interests with shareholder value, increasing Long Term Incentive (LTI) award percentages to match US peer companies. The Chief Executive Officer's LTI award percentage increased from 50% to 200%, the Chief Financial Officer's and Chief Development Officer's from 50% to 150%. Additionally, 19,996,632 Restricted Stock Units (RSUs) were granted to the leadership team, with specific vesting conditions for the CEO's 11,768,005 RSUs, including a joint venture partner achievement by December 31, 2026. The Chairman received 4,000,000 options at a US$0.318 exercise price, and PDMRs voluntarily surrendered 11,500,000 options. Disclaimer*
About this update from Pantheon Resources Plc
Pantheon Resources plc ("Pantheon" or "the Company") Grant of Share Awards and Options / PDMR Notification Pantheon Resources plc, (AIM: PANR / OTCQX: PTHRF) the oil and gas company developing the Kodiak and Ahpun oil fields on Alaska's North Slope, announces that on 8 June 2026 it granted restricted stock units, ("RSUs") and options over ordinary shares of 1 pence each in the Company, ("Ordinary Shares") to certain employees and directors, including persons discharging managerial responsibilities, ("PDMRs") under the Pantheon Resources plc Omnibus Incentive Plan 2024, ("2024 ESOP"). The Company's Remuneration Committee completed a review and update of executive remuneration arrangements following the recent reconstitution of the Board. As part of its governance responsibilities, the Board considered the Company's strategic priorities, organisational requirements and leadership structure as Pantheon progresses through the next phase of its development. This work included consideration of executive remuneration, talent retention and alignment with shareholder interests. The Board subsequently tasked the Remuneration Committee with assessing the Company's remuneration framework for PDMRs. The Remuneration Committee concluded that the Company's remuneration framework for PDMRs required updating to retain and reward an experienced and capable operational leadership team, aligning their financial interests directly with the delivery of operational milestones and long-term creation of shareholder value. Michael Spencer, Pantheon's Chairman, commented: "These LTI awards are appropriate and proportionate incentives to align the senior Pantheon executives with all shareholders at this highly important juncture for the Company." Marty Rutherford, Chair of the Company's Remuneration Committee and a Non-Executive Director said: "At this critical stage in the Company's development it is essential that we retain a stable team capable of delivering the potential of the Company's oil and gas fields. The awards agreed today align management's interests with those of shareholders and reward the successful realisation of our subsurface assets." Accordingly, the Remuneration Committee has approved a revised remuneration structure for ...
View stock analysis, news, and events for Pantheon Resources Plc