RNS Number : 0442S
Vaalco Energy Inc
12 June 2024
 

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: 

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

VAALCO Energy, Inc. (General and Investor Enquiries)

+00 1 713 623 0801

Website:

www.vaalco.com



Al Petrie Advisors (US Investor Relations)

+00 1 713 543 3422

Al Petrie / Chris Delange




Buchanan (UK Financial PR)

+44 (0) 20 7466 5000

Ben Romney / George Pope

VAALCO@buchanan.uk.com

 

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 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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END
 
 
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