Oslo, Norway (08 May 2025) - TGS granted the third tranche of Performance Stock Units (PSUs) under the Magseis 2022 Long-term Incentive Plan previously adopted and authorized by the Board of Directors of TGS ASA in 2023.
In accordance with the terms of this Plan, the third tranche of PSUs vested on 1 April 2025, resulting in a total of 51 PSU holders having the right to request the issuance of TGS shares. The company previously determined that the final payout on the PSUs is 58.3% based on achievement of performance metrics set forth in the plan, resulting in a total of 15,721 shares issuable to 51 holders of the vested PSUs.
Participants had the right to request TGS sell a portion of their vested shares to cover tax withholding obligations and other necessary deductions that arise in connection with the vest.
Of the 3,605 PSUs vested for Primary Insider Carel Hooijkaas, EVP Operations, he received 2,470 shares in TGS today. The remaining shares were used to cover withholding obligations and other necessary deductions that arise in connection with the vest. After this he owns a total of 53,164 shares in TGS.
The shares have been taken out of TGS' holding of treasury shares. After the transaction TGS holds 153,517 own shares.
About TGS
TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com.
Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
For more information, visit TGS.comor contact:
Bård Stenberg
VP IR & Communication
investor@tgs.com
Attachment
- PDMR Appendix May 2025 (https://ml-eu.globenewswire.com/Resource/Download/e363a54a-cf34-4dba-9ea9-c08bf46e77c0)
