Harbour Energy PLC has announced the vesting of the final one-third increment of the Conditional Share Award (CSA) granted to Linda Z. Cook, the Chief Executive Officer. The CSA was awarded to compensate Linda for incentive arrangements forfeited upon stepping down from her role as Managing Director of EIG Global Energy Partners. The vesting of the CSA was made in accordance with the Company's Remuneration Policy for the recruitment of a new executive director and under the terms of the Company's 2017 Long Term Incentive Plan.
As part of the vesting, Linda Z. Cook had 433,916 shares vesting, with a market price at vesting of £2.818. Out of these, 170,746 shares were sold to cover statutory deductions, and she retained 263,170 shares. The total value of the shares retained amounted to £481,162.23.
The notification of the transaction was provided in accordance with the requirements of Article 19(3) of MAR. The details of the transaction, including the nature of the transaction, the price and volume of shares, and the date and place of the transaction, were also disclosed in the announcement.
For further information, Harbour Energy PLC provided contact details for inquiries, including the Head of Investor Relations and the Company Secretary, as well as contact information for Brunswick Group.
This announcement provides insight into the vesting of the Conditional Share Award for Linda Z. Cook, shedding light on the compensation and incentive arrangements within Harbour Energy PLC.