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Genel Energy Allocates 2025 Awards to Key Executives
On April 2, 2025, Genel Energy PLC, a prominent player in the energy sector, announced the allocation of performance share plan awards to several key executives under its 2021 Performance Share Plan. This move is in compliance with the notification obligations mandated by the UK Market Abuse Regulations Article 19.1.
The awards, structured as nil-cost options, will vest over a three-year performance period. CEO Paul Weir received options over 1,117,109 shares, increasing his total holdings to 3,098,701 shares. CFO Luke Clements and Technical Director Mike Adams were granted options over 515,160 and 522,270 shares, respectively.
Additionally, Paul Weir deferred a portion of his 2024 cash bonus, converting it into 144,669 shares via the Deferred Bonus Plan, exercisable after two years. These strategic moves aim to align the interests of the executives with the company's performance.
R. H.
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