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General: Subsea 7 S.A. Announces Details Of Incentive Schemes And Share Related Awards

Posted on 26.09.2014 - 02:47 UTC in GENERAL NEWS by ginamc

Subsea 7 S.A.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:

 

    Performance
Shares
Awarded
Total
Performance
Shares(¹)
Total
Owned
Shares

Total
Options

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.
 



Contact:
Keith Russell
Subsea 7 S.A.
Tel +44 (0) 20 8210 5568
keith.russell@subsea7.com
www.subsea7.com

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