Last checked at 19 Feb 2015 09:52
Tullow Oil plc
19 February 2015
Tullow Oil plc ('Tullow' or 'the Company')
Director/PDMR Notification
Awards of Shares under the Tullow Incentive Plan
The Company announces that on 18 February 2015 each of the following executive directors were granted nil exercise price options over the number of ordinary shares of 10p each set out below under the terms of the Tullow Incentive Plan:
Director | Number of Tullow Incentive Plan Shares awarded 18 February 2015
| Number of Tullow Incentive Plan Shares awarded 19 February 2014
| Cumulative number of Tullow Incentive Plan Shares outstanding
|
Aidan Heavey | 152,772 | 102,992 | 255,764 |
Graham Martin | 86,398 | 58,246 | 144,644 |
Angus McCoss | 86,398 | 58,246 | 144,644 |
Paul McDade | 86,398 | 58,246 | 144,644 |
Ian Springett | 91,737 | 61,845 | 153,582 |
No consideration was paid for any of the awards and no consideration is due on vesting.
The awards granted on 18 February 2015 will normally vest on 18 February 2019 as to 50% of the shares subject to each award and 18 February 2020 as to the remaining 50% of the shares. The awards will normally remain exercisable, subject to continued employment, for a period of six years from the date of vesting in respect of those awards that vest on 18 February 2018 and five years in the case of the awards that vest on 18 February 2020.
The awards granted on 19 February 2014 will normally vest on 19 February 2017 as to 50% of the shares subject to each award and 19 February 2018 as to the remaining 50% of the shares. The awards will normally remain exercisable, subject to continued employment, for a period of seven years from the date of vesting in respect of those awards that vest on 19 February 2017 and six years in the case of the awards that vest on 19 February 2018.
This notification is made in accordance with DTR 3.1.4R (1)(a).
Enquiries
George Cazenove
Tullow Oil plc
+ 44 203 249 9000