Hamilton, Bermuda, 27 January 2020 - Höegh
As further set out below, the Board of Directors of the Company has approved new awards under both programs.
Stock Option Program Round 5
Reference is made to stock exchange notices dated
The Board has approved the award of 1,301,563 stock options in the Company (the "Stock Options") at a fixed strike price in a fifth round of the Stock Option Program ("Round 5"). The strike price of the Stock Options is
After the issuance of the Options, the total number of options outstanding in the Company is 3,249,340.
Phantom Unit Program Round 3
Reference is made to the stock exchange notice dated
Reference is also made to the Form S-8 "Securities Registration: Employee Benefit Plan" ("Form S-8") filed by Höegh
The Board has approved the total award of 37,371 Phantom Units in HMLP in a third round of the Phantom Unit Program ("Round 3").
The Phantom Units will vest with one third on
Disclosure of number of Stock Options and Phantom Units and total ownership interests in the Company and HMLP following above awards
The following primary insiders of the Company were awarded Stock Options and Phantom Units as set out above (the total ownership interests subject to disclosure requirements held by the primary insiders following the above awards are included in parenthesis):
· Sveinung J. S. Støhle, President & CEO: 159,375 Stock Options and 9,639 Phantom Units (199,392 shares and 494,625 Stock Options in the Company and 15,915 common units and 20,013 Phantom Units in HMLP)
·
·
· Vegard Hellekleiv, Chief Operating Officer: 85,000 Stock Options and 3,000 Phantom Units (35,582 shares and 263,800 Stock Options in the Company and 5,667 Phantom Units in HMLP)
· Øivin Iversen, Chief Technical Officer: 85,000 Stock Options and 3,000 Phantom Units (6,464 shares and 263,800 Stock Options in the Company and 5,667 Phantom Units in HMLP)
·
·
· Ragnar Wisløff, Head of Change & Transformation: 85,000 Stock Options and 3,000 Phantom Units (23,934 shares and 263,800 Stock Options in the Company and 5,667 Phantom Units in HMLP, including shares owned through his wholly owned company Fri Agenda AS)
· Steffen Føreid, CEO/CFO of HMLP: 10,625 Stock Options (30,189 shares and 144,725 Stock Options in the Company and 15,022 common units and 11,961 Phantom Units in HMLP)
* * *
Contacts:
Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
About Höegh LNG:
Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the
https://news.cision.com/hoegh-lng/r/hoegh-lng---employee-benefit-plans---new-awards---mandatory-notification-of-trade,c3018172
(c) 2020 Cision. All rights reserved., source