BW LPG Limited - Management Share Option Plan “LTIP 2022” – Award of Share Options

Rhea-AI Summary

BW LPG has announced its fourth annual award of share options under the five-year long-term management share option plan (LTIP 2022). The company will award 657,935 options in 2025, coinciding with the Q4 2024 quarterly report publication.

The share options distribution among key executives includes:

• CEO Kristian Sorensen: 220,647 new options (total 661,941)
• CFO Samantha Xu: 85,000 new options (total 170,000)
• VP Operations Prodyut Banerjee: 50,812 new options (total 152,436)
• VP Technical Knut-Helge Knutsen: 50,812 new options (total 152,436)
• VP Corporate Development Iver Baatvik: 50,812 new options (total 124,464)
• VP Human Resources Leona Leo: 50,812 new options (total 50,812)

BW LPG, the world's leading LPG vessel operator, manages Very Large Gas Carriers with over 4 million CBM total carrying capacity.

Positive

• Alignment of management interests with shareholders through equity incentives
• Strong management retention strategy with long-term incentive plan
• Significant insider ownership demonstrates management confidence

Negative

• Potential future shareholder dilution from 657,935 new options
• direct share ownership by some key executives

SINGAPORE--(BUSINESS WIRE)-- The Board of Directors of BW LPG Limited (“BW LPG" or the "Company", OSE ticker code: "BWLPG.OL", NYSE ticker code "BWLP) has approved the award of share options to senior management and certain employees of the Company.

This is the fourth annual award of share options under the five-year long-term management share option plan (“LTIP 2022”) which was launched on 1 Mar 2022. LTIP 2022 is aimed at aligning the interests of senior management and key employees of the Company with those of the shareholders. Details of the plan can be found in the following link: https://www.bwlpg.com/media/press-release/bw-lpg-management-share-option-plan-ltip-2022-award-of-share-options/

The total number of options that will be awarded in 2025 is 657,935. The options are awarded in connection with the publication of the quarterly report for Q4 2024.

The following primary insiders of the Company have been awarded options under LTIP 2022, as further described below and in the attached forms.

Kristian Sorensen, Chief Executive Officer
Options granted in prior years: 441,294
Options granted in 2025: 220,647
Total options held: 661,941
Shares held: 7,000

Samantha Xu, Chief Financial Officer
Options granted in prior years: 85,000
Options granted in 2025: 85,000
Total options held: 170,000
Shares held: 2,000

Prodyut Banerjee, Vice President and Head of Operations
Options granted in prior years: 101,624
Options granted in 2025: 50,812
Total options held: 152,436
Shares held: 0

Knut-Helge Knutsen, Vice President and Head of Technical
Options granted in prior years: 101,624
Options granted in 2025: 50,812
Total options held: 152,436
Shares held: 0

Iver Baatvik, Vice President and Head of Corporate Development
Options granted in prior years: 75,652
Options granted in 2025: 50,812
Total options held: 124,464
Shares held: 24,840

Leona Leo, Vice President and Head of Human Resources
Options granted in prior years: 0
Options granted in 2025: 50,812
Total options held: 50,812
Shares held: 0

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at www.bwlpg.com

BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250227187441/en/

For further information, please contact:

Samantha Xu

Chief Financial Officer

E-mail: investor.relations@bwlpg.com

Source: BW LPG Limited

FAQ

How many share options will BW LPG (BWLP) award in 2025 under LTIP 2022?

BW LPG will award 657,935 share options in 2025 as part of the LTIP 2022 program.

What is the total number of share options held by BW LPG's CEO after the 2025 award?

CEO Kristian Sorensen holds 661,941 total options after receiving 220,647 new options in 2025.

When was BW LPG's LTIP 2022 management share option plan launched?

The LTIP 2022 five-year long-term management share option plan was launched on March 1, 2022.

What is BW LPG's total carrying capacity for their VLGC fleet?

BW LPG operates Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM.