Seplat Energy Plc has granted 2026 Long Term Incentive Plan (LTIP) and Deferred Share Awards to its executive directors as part of the company’s remuneration arrangements.
Under the company’s 2024 Long Term Incentive Plan, Seplat granted awards over ordinary shares in respect of the 2026 financial year to its three executive directors. CEO Effiong Okon Received 194,512 shares, Chief Operations Officer Samson Ezugworie received 123,582 shares while Chief Financial Officer Eleanor Adaralegbe received 117,550 shares.
Seplat said the number of shares awarded was calculated by dividing the applicable salary multiple by the five-day average closing share price before the grant, which stood at £6.106. Seplat also granted Deferred Share Awards to the executive directors in relation to their 2025 annual performance bonuses.
Under the company’s approved Directors’ Remuneration Policy, 25% of the annual bonus is deferred into shares. The deferred awards will normally vest and be released on December 31, 2027, subject to the executives remaining in employment.
Combining the 2026 LTIP and Deferred Share Awards, Effiong Okon received 235,572 shares, while Samson Ezugworie received 164,784 shares and Eleanor Adaralegbe received a combined 156,741 shares.
