Luxembourg – 20 September 2023 - 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 2022 Long-Term Incentive Plan (the “Plan”) approved by the Board on 19 September 2023.
The Company will make awards of 1,450,400 performance shares, subject to the Plan’s performance conditions, on 19 September 2023.
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 Executive Officer | 60,000 | 239,099 | 101,405 | Nil |
| Mark Foley | Chief Financial Officer | 38,000 | 110,000 | Nil | Nil |
| Olivier Blaringhem | EVP – Subsea & Conventional | 38,000 | 148,137 | 23,156 | Nil |
| Stuart Fitzgerald | Chief Executive Officer – Seaway 7 | 38,000 | 149,800 | 31,397 | Nil |
| Nathalie Louys | General Counsel | 32,000 | 131,441 | 37,557 | Nil |
| Katherine Lyne | EVP – Human Resources | 30,000 | 121,884 | 20,673 | Nil |
| Phillip Simons | EVP – Projects & Operations | 38,000 | 147,343 | 13,451 | Nil |
| Marcelo Lopes Xavier | EVP – Strategy & Sustainability | 30,000 | 102,187 | 2,164 | Nil |
¹Total performance shares held include the awards made in 2023 and represent the maximum award due to vest assuming all performance conditions are met.
This message is submitted on behalf of Subsea 7 S.A., as well as the named Primary Insiders.
*********************************************************************************
Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry. We create sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
*********************************************************************************
Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 (0)20 8210 5568
ir@subsea7.com
This stock exchange release was published by William Vincent, Assistant Treasurer, Subsea7, on 20 September 2023 at 16:45 CET.
Attachment
