Frontline plc ("Frontline" or the "Company") hereby announces that 362,284 synthetic options have today been granted to management and employees of the Company. The synthetic options will have a five-year term expiring May 27, 2030, and will vest over a three-year vesting period as follows:
- 1/3 of the synthetic options will vest on May 27, 2026
- 1/3 of the synthetic options will vest on May 27, 2027
- 1/3 of the synthetic options will vest on May 27, 2028
The exercise price of the synthetic options is USD 16.8 being the volume-weighted average price of the share the last 30 days prior to grant. The exercise price will further be adjusted for any distribution of dividends made before the relevant synthetic options are exercised. The synthetic options granted to the CEO and the CFO are subject to a cap on maximum annual gain equal to two times the annual base salary at the time of exercise of the synthetic options.
The synthetic options will be settled in cash based on the difference between the market price of the Company's shares and the exercise price on the date of exercise.
The synthetic options have been granted according to the rules of the Company's synthetic option scheme approved by the Board of Directors of the Company. Please see the attached forms of notification of transactions by primary insiders for the synthetic options.
May 27, 2025
The Board of Directors
Frontline plc
Limassol, Cyprus
This notification has been publicly disclosed in accordance with Article 19 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
Attachment
- PDMR transactions (https://ml-eu.globenewswire.com/Resource/Download/fdfda862-2e50-43e8-9107-3b132a5f735e)
