DJ Long Term Incentive Plan ("LTIP") Award
Gulf Keystone Petroleum Ltd (GKP)
Long Term Incentive Plan ("LTIP") Award
04-Apr-2025 / 07:00 GMT/BST
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4 April 2025
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Long Term Incentive Plan ("LTIP") Award
Director/PDMR Shareholdings
LTIP
Gulf Keystone announces that, pursuant to the Gulf Keystone Petroleum 2024 Long Term Incentive Plan ("LTIP"), on 1
April 2025 (the "Award Date") awards over common shares ("2025 Awards") were granted to employees and the persons
discharging managerial responsibilities ("PDMRs") listed below.
The LTIP was approved by the Company's shareholders at the Company's Annual General Meeting held on 21 June 2024,
replacing the 2014 Long Term Incentive Plan. These are the second awards to be made under the new plan and are in
accordance with the agreed annual issue cycle which follows release of the Company's full year results. The awards have
been made to eligible employees of the wider workforce, including to employees in Kurdistan.
The quantum of 2025 Awards was determined based on a price of 193.9p being the closing mid-market price of the Company
on 31 March 2025. The vesting date for the 2025 Awards is 1 April 2028, being the third anniversary from the Award
Date. The 2025 Awards are in the form of nil cost options and no consideration is payable for the grant of an award.
Performance Conditions
Vesting of the 2025 Awards is subject to performance conditions which include the requirement for both absolute and
relative total shareholder return ("TSR") targets being met. For the 2025 Awards, TSR will be measured over the three
financial years of the Company commencing in the year of the Grant Date. In accordance with recent governance
guidelines, the Remuneration Committee has the discretion to review vesting outcomes to ensure a fair reflection of
performance.
Awards
The following PDMRs have been granted 2025 Awards under the LTIP:
Name Position Number of awards
Jon Harris Chief Executive Officer 513,873
Gabriel Papineau-Legris Chief Financial Officer 287,003
John Hulme Chief Operating Officer 179,090
Clare Kinahan Chief HR Officer 117,097
Alasdair Robinson Chief Legal Officer 116,480
Staff Awards
In addition to the above, a total of 1,841,737 awards in aggregate have also been granted to eligible employees who are not PDMRs. For lower grade staff only, awards are made on a time vested basis without performance conditions, and will vest one third/one third/one third over three years subject to certain conditions including continuation of employment. Of the 1,841,737 awards detailed above, 468,404 of these are time vested awards.
Enquiries:
Gulf Keystone: +44 (0) 20 7514 1400
Aaron Clark, Head of Investor Relations
& Corporate Communications aclark@gulfkeystone.com
FTI Consulting +44 (0) 20 3727 1000
Ben Brewerton
GKP@fticonsulting.com
Nick Hennis
or visit: www.gulfkeystone.com
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com
This notification is made in accordance with the Market Abuse Regulation.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jon Harris
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Common shares of USD1.00 each in Gulf Keystone Petroleum Limited
type of instrument
a)
ISIN: BMG4209G2077
Identification code
b) Nature of the transaction Grant of nil cost award under the Gulf Keystone Petroleum 2024
Long Term Incentive Plan
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 513,873
Aggregated information
- Aggregated volume
d) Single transaction as in 4c) above.
- Price
e) Date of the transaction 1 April 2025
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Gabriel Papineau-Legris
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Common shares of USD1.00 each in Gulf Keystone Petroleum Limited
type of instrument
a)
Identification code
ISIN: BMG4209G2077
Grant of nil cost award under the Gulf Keystone Petroleum 2024
b) Nature of the transaction Long Term Incentive Plan
Price(s) Volume(s)
c) Price(s) and volume(s) nil 287,003
Aggregated information
- Aggregated volume
d) Single transaction as in 4c) above.
- Price
e) Date of the transaction 1 April 2025
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name John Hulme
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Common shares of USD1.00 each in Gulf Keystone Petroleum Limited
type of instrument
a)
ISIN: BMG4209G2077
Identification code
b) Nature of the transaction Grant of nil cost award under the Gulf Keystone Petroleum 2024
Long Term Incentive Plan
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 179,090
Aggregated information
- Aggregated volume
d) Single transaction as in 4c) above.
- Price
e) Date of the transaction 1 April 2025
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Clare Kinahan
2 Reason for the notification
a) Position/status Chief HR Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Common shares of USD1.00 each in Gulf Keystone Petroleum Limited
type of instrument
a)
ISIN: BMG4209G2077
Identification code
b) Nature of the transaction Grant of nil cost award under the Gulf Keystone Petroleum 2024
Long Term Incentive Plan
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 117,097
Aggregated information
- Aggregated volume
d) Single transaction as in 4c) above.
- Price
e) Date of the transaction 1 April 2025
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Alasdair Robinson
2 Reason for the notification
a) Position/status Chief Legal Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gulf Keystone Petroleum Limited
b) LEI 213800QTAQOSSTNTPO15
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Common shares of USD1.00 each in Gulf Keystone Petroleum Limited
type of instrument
a)
ISIN: BMG4209G2077
Identification code
b) Nature of the transaction Grant of nil cost award under the Gulf Keystone Petroleum 2024
Long Term Incentive Plan
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 116,480
Aggregated information
- Aggregated volume
d) Single transaction as in 4c) above.
- Price
e) Date of the transaction 1 April 2025
f) Place of the transaction Outside a trading venue
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: BMG4209G2077 Category Code: MSCM TIDM: GKP LEI Code: 213800QTAQOSSTNTPO15 Sequence No.: 381129 EQS News ID: 2111612 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
April 04, 2025 02:00 ET (06:00 GMT)
