Luxembourg – 19 September 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) (the “Company”) in accordance with the Oslo Børs rules, today announces the details of awards under its 2018 Long-Term Incentive Plan (the “Plan”) approved by the Board on 18 September 2019.
The Company will make awards of 1,387,000 performance shares, subject to the Plan’s performance conditions, on 19 September 2019.
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 | |||||
| John Evans | Chief Operating Officer | 60,000 | 218,929 | 55,046 | Nil | |||
| Ricardo Rosa | Chief Financial Officer | 40,000 | 168,263 | 20,925 | Nil | |||
| Stuart Fitzgerald | EVP – Strategy & Commercial | 35,000 | 125,977 | 7,945 | Nil | |||
| Nathalie Louys | General Counsel | 28,000 | 107,514 | 14,751 | Nil | |||
| Kate Lyne | EVP – Human Resources | 25,000 | 72,074 | 6,867 | Nil | |||
¹Total performance shares held include the awards made in 2019 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 S.A., as well as the named Primary Insiders.
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Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 208 210 5568
isabel.green@subsea7.com
www.subsea7.com
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