12 June 2024
VAALCO Energy, Inc.
("VAALCO" or the "Company")
PDMR dealings
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ("VAALCO" or the "Company") announces that restricted shares in the Company ("Restricted Shares") were valued on the date of grant at a price per share of common stock of the Company ("Common Stock") of $5.96 to persons discharging managerial responsibility in the Company as listed below. For the awards to directors other than George Maxwell, the Restricted Shares will remain restricted until the earlier of (i) the first anniversary of the grant date or (ii) the first annual meeting of stockholders of the Company following the grant date (but in either case, not less than fifty (50) weeks following the grant date) provided, that the director is then, and continuously from the grant date has been, an outside director of the Company and has not been terminated from service from the Company's board of directors on such vesting date. For George Maxwell and non-directors, Restricted Shares will become unrestricted in equal proportions on the anniversary of the date of grant over the next three-year period.
|
Name |
Role |
Nature of transaction |
Number of Restricted Shares awarded |
|
George Maxwell |
Chief Executive Officer and Director |
Award of Restricted Shares |
141,156 |
|
Ronald Bain |
Chief Financial Officer |
Award of Restricted Shares |
51,669 |
|
Thor Pruckl |
Chief Operating Officer |
Award of Restricted Shares |
68,676 |
|
Lynn Willis |
Interim Chief Accounting Officer and Controller |
Award of Restricted Shares |
16,704 |
|
Matthew Powers |
Executive Vice President and General Counsel |
Award of Restricted Shares |
35,062 |
|
Andrew Fawthrop |
Chairman of the Board |
Award of Restricted Shares |
14,262 |
|
Edward LaFehr |
Director |
Award of Restricted Shares |
14,262 |
|
Fabrice Nze-Bekale |
Director |
Award of Restricted Shares |
14,262 |
|
Catherine Stubbs |
Director |
Award of Restricted Shares |
14,262 |
VAALCO also announces that performance options ("Performance Options") were granted to persons discharging managerial responsibility in the Company as listed below. These are convertible into shares of Common Stock at the option of the holder thereof and will vest over a three year period starting on the grant date, subject to the performance conditions attached to each award being met. The Performance Options have an exercise price of $5.96, and were valued at $3.22 per Performance Option as of the date of grant.
|
Name |
Role |
Nature of transaction |
Number of Performance Options awarded |
|
George Maxwell |
Chief Executive Officer and Director |
Award of Performance Options |
261,545 |
|
Ronald Bain |
Chief Financial Officer |
Award of Performance Options |
95,736 |
|
Thor Pruckl |
Chief Operating Officer |
Award of Performance Options |
127,248 |
|
Matthew Powers |
Executive Vice President and General Counsel |
Award of Performance Options |
64,966 |
Further, VAALCO also announces that on 8 June 2024, there were the following forfeitures of Common Stock by persons discharging managerial responsibility in the Company to satisfy tax withholding obligations on the vesting of restricted stock awards:
|
Name |
Role |
Nature of transaction |
Number of shares of Common Stock |
|
George Maxwell |
Chief Executive Officer and Director |
Forfeiture of Common Stock |
16,409 |
|
Ronald Bain |
Chief Financial Officer |
Forfeiture of Common Stock |
5,968 |
|
Thor Pruckl |
Chief Operating Officer |
Forfeiture of Common Stock |
2,906 |
|
Matthew Powers |
Executive Vice President and General Counsel |
Forfeiture of Common Stock |
1,696 |
About VAALCO
VAALCO, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of operated production, development and exploration assets across Gabon, Egypt, Cote d'Ivoire, Equatorial Guinea and Canada.
For Further Information
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VAALCO Energy, Inc. (General and Investor Enquiries) |
+00 1 713 623 0801 |
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Website: |
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Al Petrie Advisors (US Investor Relations) |
+00 1 713 543 3422 |
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Al Petrie / Chris Delange |
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Buchanan (UK Financial PR) |
+44 (0) 20 7466 5000 |
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Ben Romney / George Pope |
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1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
George Maxwell |
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2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Executive Officer and Director |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 141,156 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Ronald Bain |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Financial Officer |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 51,669 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Thor Pruckl |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Operating Officer |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 68,676 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Lynn Willis |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Interim Chief Accounting Officer and Controller |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 16,704 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Matthew Powers |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Executive Vice President and General Counsel |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 35,062 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Andrew Fawthrop |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chairman of the Board |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 14,262 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Edward LaFehr |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Director |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 14,262 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Fabrice Nze-Bekale |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Director |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 14,262 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Catherine Stubbs |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Director |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Restricted Shares |
|
c) |
Price(s) and volume(s) |
Volume: 14,262 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
George Maxwell |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Executive Officer and Director |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Performance Options |
|
c) |
Price(s) and volume(s) |
Volume: 261,545 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Ronald Bain |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Financial Officer |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Performance Options |
|
c) |
Price(s) and volume(s) |
Volume: 95,736 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Thor Pruckl |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Operating Officer |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Performance Options |
|
c) |
Price(s) and volume(s) |
Volume: 127,248 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Matthew Powers |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Executive Vice President and General Counsel |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Award of Performance Options |
|
c) |
Price(s) and volume(s) |
Volume: 64,966 Price: N/A |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
6 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
George Maxwell |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Executive Officer and Director |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Forfeiture of Common Stock |
|
c) |
Price(s) and volume(s) |
Volume: 16,409 Price: US$6.06 |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
8 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Ronald Bain |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Financial Officer |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Forfeiture of Common Stock |
|
c) |
Price(s) and volume(s) |
Volume: 5,968 Price: US$6.06 |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
8 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Thor Pruckl |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Operating Officer |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Forfeiture of Common Stock |
|
c) |
Price(s) and volume(s) |
Volume: 2,906 Price: US$6.06 |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
8 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
|
1. |
Details of the Person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Matthew Powers |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Executive Vice President and General Counsel |
|
b) |
Initial notification / amendment |
Initial notification |
|
3. |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
|
|
a) |
Name |
VAALCO Energy, Inc. |
|
b) |
LEI |
549300CFHFVIWB8M6T24 |
|
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 |
|
|
a) |
Description of the financial instrument, type of instrument Identification code |
Common Stock, par value $0.10 per share
US91851C2017 |
|
b) |
Nature of the transaction |
Forfeiture of Common Stock |
|
c) |
Price(s) and volume(s) |
Volume: 1,696 Price: US$6.06 |
|
d) |
Aggregated information - Aggregated volume - Aggregated price |
N/A |
|
e) |
Date of the transaction |
8 June 2024 |
|
f) |
Place of the transaction |
Outside a trading venue |
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