Subsea 7 S.A. announces details of share-related awards

Aberdeenshire, UNITED KINGDOM

Luxembourg – 22 September 2021 - 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 22 September 2021.

The Company will make awards of 1,234,000 performance shares, subject to the Plan’s performance conditions, on 22 September 2021.

The following Primary Insiders were awarded performance shares under the Plan and subsequently hold the following shares and options:

NamePositionPerformance Shares AwardedTotal Performance Shares(¹)Total Owned SharesTotal Options
John EvansChief Executive Officer50,000220,19681,873Nil
Olivier BlaringhemEVP – Subsea & Conventional35,000127,63114,105Nil
Stuart FitzgeraldEVP – Alliances & Strategy (2)35,000138,70418,774Nil
Phillip SimonsEVP – Projects & Operations35,000123,3874,447Nil
Stephen McNeillEVP – Renewables (3)30,000118,7184,778Nil
Nathalie LouysGeneral Counsel 30,000117,09827,663Nil
Katherine Lyne EVP – Human Resources 30,00098,25814,491Nil

Mark Foley has been appointed Chief Financial Officer as of 1 January 2022 and as such has been awarded 40,000 shares. 

¹Total performance shares held include the awards made in 2021 and represent the maximum award due to vest assuming all performance conditions are met.
2Subject to closing (Chief Executive Officer - Seaway 7 ASA, effective 1st October 2021)
3Subject to closing (Chief Operating Officer – Seaway 7 ASA, effective 1st October 2021)

This message is submitted on behalf of the Company and Subsea 7 S.A., as well as the named Primary Insiders.

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 Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
Contact for investment community enquiries:
Katherine Tonks
Head of Investor Relations
Tel +442082105568