Team Tankers International Ltd.: Announces Share Grant

Team Tankers International (the “Company”) has granted 544,000 restricted shares to key employees, of which 220,000 to primary insiders, (“Restricted Shares“) and granted to the Executive Management Team an award of options to purchase 1,000,000 shares in the Company (“Options”). The Restricted Shares shall vest in January 2021 subject to continued employment. The Options have an exercise price of NOK 6; 200,000 options shall vest on 15 July 2020 subject to continued employment and 800,000 options shall vest on 31 January 2021 subject to continued employment. Vested Options expire one year after the vesting date.

The following primary insiders were granted Restricted Shares and Options:

Mr. Jens Gisle Schnelle has been granted 200,000 Options in the Company. The Options shall vest on 15 July 2020 subject to continued employment. After this grant, Mr. Schnelle holds (1) 1,075 shares in the Company, (2) 330,000 restricted shares in the Company and (3) options to acquire 200,000 shares in the Company.

Mr. Michael Obling has been granted 65,000 Restricted Shares and 200,000 Options in the Company. The Restricted Shares and Options shall vest on 31 January 2021 subject to continued employment. After this grant, Mr. Obling holds (1) 0 shares in the Company, (2) 130,000 restricted shares in the Company and (3) options to acquire 200,000 shares in the Company.

Mr. Michael Vilson has been granted 60,000 Restricted Shares in the Company and 200,000 Options in the Company. The Restricted Shares and Options shall vest on 31 January 2021 subject to continued employment. After this grant, Mr. Vilson holds (1) 0 shares in the Company, (2) 120,000 restricted shares in the Company and (3) options to acquire 200,000 shares in the Company.

Ms. Malene Hald Pedersen has been granted 45,000 Restricted Shares in the Company and 200,000 Options in the Company. The Restricted Shares and Options shall vest on 31 January 2021 subject to continued employment. After this grant, Ms. Pedersen holds (1) 992 shares in the Company, (2) 90,000 restricted shares in the Company and (3) options to acquire 200,000 shares in the Company.

Mr. Tim Addis-Jones has been granted 50,000 Restricted Shares in the Company and 200,000 Options in the Company. The Restricted Shares and Options shall vest on 31 January 2021 subject to continued employment. After this grant, Mr. Addis-Jones holds (1) 0 shares in the Company, (2) 100,000 restricted shares in the Company and (3) options to acquire 200,000 shares in the Company.

To date, Team Tankers International Ltd. has issued a total of 209,578,173 shares of which 6,324,076 shares are held by the Company as treasury shares.
Source: Team Tankers International Ltd.