Luxembourg – 12 November 2020 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) (the “Company”) in accordance with the Oslo Børs rules, today announced the details of awards under its 2018 Long-Term Incentive Plan (the “Plan”) approved by the Board on 11 November 2020.
The Company will make awards of 1,120,000 performance shares, subject to the Plan’s performance conditions, on 12 November 2020.
The following Primary Insiders were awarded performance shares under the Plan and subsequently hold the following shares and options:
| Name | Position | Performance Shares Awarded | Total Performance Shares(¹) | Total Owned Shares | Total Options |
| John Evans | Chief Operating Officer | 50,000 | 170,196 | 81,873 | Nil |
| Ricardo Rosa | Chief Financial Officer | 35,000 | 124,356 | 42,345 | Nil |
| Olivier Blaringhem | EVP – Surf & Conventional | 30,000 | 92,631 | 14,105 | Nil |
| Stuart Fitzgerald | EVP – Strategy & Commercial | 30,000 | 103,704 | 18,774 | Nil |
| Phil Simons | EVP – Projects & Operations | 30,000 | 88,387 | 4,447 | Nil |
| Steph McNeill | EVP - Renewables | 30,000 | 88,718 | 4,778 | Nil |
| Nathalie Louys | General Counsel | 28,000 | 87,098 | 27,663 | Nil |
| Kate Lyne | EVP – Human Resources | 25,000 | 68,258 | 14,491 | Nil |
¹Total performance shares held include the awards made in 2020 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:
Katherine Tonks
Head of Investor Relations
Subsea 7 S.A.
Tel +44 20-8210-5568
Katherine.Tonks@Subsea7.com
www.subsea7.com
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