DJ Director / PDMR Shareholdings
Gulf Keystone Petroleum Ltd (GKP)
Director / PDMR Shareholdings
04-Apr-2025 / 07:00 GMT/BST
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4 April 2025
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP", "the Group" or "the Company")
Director / PDMR Shareholdings
Gulf Keystone announces the following transactions by persons discharging managerial responsibilities ("PDMR").
Long Term Incentive Plan ("LTIP")
Mr Jon Harris, Chief Executive Officer, and Mr Gabriel Papineau-Legris, Chief Financial Officer, exercised their vested
nil-cost share options granted to them in 2022 under the 2014 Long Term Incentive Plan ("LTIP"). Upon exercise, a
proportion of their vested awards was sold to pay the tax liability arising upon exercise, while the remainder was
retained.
Name Position Share Option Vested awards Shares sold Shares Average price per share Date of
Scheme exercised for tax retained of sale (GBP) sale
Jon Harris CEO 2014 LTIP 362,441* 170,947 191,494 1.8977 2 April
2025
Gabriel CFO 2014 LTIP 74,261 35,027 39,234 1.8977 2 April
Papineau-Legris 2025
*On exercise, Mr Harris is entitled to an amount in shares equivalent to the dividends paid to shareholders during the vesting period on the vested shares ("the Dividend Equivalent"). The Dividend Equivalent amount equates to 107,785 common shares and is included in the total of 362,441.
Deferred Bonus Plan ("DBP")
On 1 April 2022, Mr Jon Harris was awarded 60,962 awards under the Deferred Bonus Plan ("DBP"), representing 30% of his 2022 bonus award. Under the rules of the DBP, the awards vested on 20 March 2025. In addition, Mr Harris is entitled to an amount equivalent to the dividends paid to shareholders during the vesting period on the vested shares ("the Dividend Equivalent"). This amounts to GBP62,697, transferred to Mr Harris in the form of shares.
All awarded shares were net settled by the Company, resulting in the number of shares being transferred to Mr Harris on 4 April 2025 being the post-tax amount.
Dividend
Share Vested Net amount of Net amount of shares for Date of
Name Position Option awards shares post Equivalent Dividend Equivalent post transfer Total number of
Scheme tax amount (GBP) tax shares
transferred
Jon Harris CEO DBP 60,962 32,635 62,697 16,824 4 April 49,459
2025
Market purchases were made through the Company's Employee Benefit Trust to satisfy all awarded LTIP and DBP shares.
Following the transactions, Mr Harris owns 351,724 common shares in the Company representing 0.16% of the issued share capital ("ISC"), while Mr Papineau-Legris owns 480,923 common shares in the Company representing 0.22% of the ISC.
Enquiries:
Gulf Keystone: +44 (0) 20 7514 1400
Aaron Clark, Head of Investor Relations
& Corporate Communications aclark@gulfkeystone.com
FTI Consulting +44 (0) 20 3727 1000
Ben Brewerton
GKP@fticonsulting.com
Nick Hennis
or visit: www.gulfkeystone.com
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com
This notification is made in accordance with the Market Abuse Regulation.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Jon Harris
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Common shares of USD1.00 each in Gulf Keystone Petroleum Limited
type of instrument
a)
Identification code
ISIN: BMG4209G2077
1. Exercise of 362,441 Nil-cost options pursuant to
b) Nature of the transaction 2014 LTIP (2022 award)
2. Sale of 170,947 shares to cover tax liability
Price(s) Volume(s)
0p 362,441
c) Price(s) and volume(s)
189.77p 170,947
Aggregated information
- Aggregated volume
0p 362,441 GBP0
d) - Price
189.77p 170,947 GBP324,406.12
- Total
e) Date of the transaction 2 April 2025
f) Place of the transaction London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Gabriel Papineau-Legris
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Common shares of USD1.00 each in Gulf Keystone Petroleum Limited
type of instrument
a)
Identification code
ISIN: BMG4209G2077
1. Exercise of 74,261 Nil-cost options pursuant to
b) Nature of the transaction 2014 LTIP (2022 award)
2. Sale of 35,027 shares to cover tax liability
Price(s) Volume(s)
0p 74,261
c) Price(s) and volume(s)
189.77p 35,027
Aggregated information
- Aggregated volume
0p 74,261 GBP0
d) - Price
189.77p 35,027 GBP66,470.74
- Total
e) Date of the transaction 2 April 2025
f) Place of the transaction London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Jon Harris
2 Reason for the notification
a) Position/status Chief Executive Officer
b)
Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Common shares of USD1.00 each in Gulf Keystone
Description of the financial instrument, type of Petroleum Limited
a) instrument
Identification code
ISIN: BMG4209G2077
Transfer of vested awards under the Deferred Bonus
b) Nature of the transaction Plan
Price(s) Volume(s)
0p 49,559
c) Price(s) and volume(s)
Aggregated information Price(s) Volume(s) Total
- Aggregated volume 0p GBP0
d)
- Price
e) Date of the transaction 4 April 2025
f) Place of the transaction London Stock Exchange
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: BMG4209G2077 Category Code: MSCM TIDM: GKP LEI Code: 213800QTAQOSSTNTPO15 Sequence No.: 381130 EQS News ID: 2111614 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
April 04, 2025 02:00 ET (06:00 GMT)
