Subsea 7 S.A. in accordance with the Oslo Børs rules, today announces details of awards under its 2013 Long-Term Incentive Plan (the Plan) approved by the Company’s Board of Directors on 23 September 2014.
The Company will make awards over 1,658,000 performance shares, subject to the Plan’s performance conditions on 1 October 2014. The award made will be satisfied by treasury shares held indirectly by Subsea 7 Investing (Bermuda) Limited and unallocated shares held within Appleby Trust (Jersey) Limited.
The following Primary Insiders were awarded performance shares under the Plan and subsequently hold the following shares and options over shares:
|Jean Cahuzac||Chief Executive Officer||70,000||190,000||92,566||100,000|
|Ricardo Rosa||Chief Financial Officer||40,000||110,000||Nil||Nil|
|John Evans||Chief Operating Officer||48,000||128,000||29,948||Nil|
|Nathalie Louys||General Counsel||23,000||62,000||2,607||22,500|
|Keith Tipson||Executive VP – HR||28,000||73,500||21,931||61,500|
|Steve Wisely||Executive VP – Commercial||34,000||94,000||25,732||Nil|
¹Total performance shares held include the awards made in 2014 and represent the maximum award due to vest assuming all performance conditions are met.
This message is submitted on behalf of the Company and Subsea 7 Investing (Bermuda) Limited, as well as the named Primary Insiders.
Subsea 7 S.A. is a seabed-to-surface engineering, construction and services contractor to the offshore energy industry worldwide.
We provide integrated services, and we plan, design and deliver complex projects in harsh and challenging environments.
Subsea 7 S.A.
Tel +44 (0) 20 8210 5568