Vesting and New Awards under the Restricted Share Unit Plan (the “RSU Plan”) and Total Voting Rights
Amaroq Ltd. announced that on February 12, 2026, 1,792,236 restricted share units vested, representing 50% of a prior award, with the remaining 50% to vest on the second anniversary of the grant date. These vested shares, including allocations to CEO Eldur Olafsson and Interim COO Joan Plant, will be admitted for trading on AIM on February 17, 2026, increasing the company's total issued share capital to 465,441,058 common shares. Additionally, new RSU awards were granted on February 12, 2026, to directors and employees, with specific vesting conditions and initial prices detailed for participants like Ellert Arnarson and Joan Plant. Recipients of vested shares may sell a portion to cover tax obligations.
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TORONTO, ONTARIO – 13 February 2026 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, announces that on 12 February 2026 certain restricted share units vested and new awards were granted under the RSU Plan. Further details are set out below.
Vesting of the RSUs
Following the release made on 12 February 2025 regarding the granting of an award (the "Award") to directors and employees in line with the Company’s RSU plan, a total of 1,792,236 RSUs (representing 50% of the Award) have vested (the “RSU Shares”). This includes allocations to the PDMRs Eldur Olafsson (Director and CEO) and Joan Plant (Interim COO), bringing their total holdings to 17,055,825 and 551,007 shares, respectively. The remaining 50% of shares will vest on the second anniversary of the grant date.
Recipients of the vested shares may sell a portion of such shares in the near term to cover applicable tax obligations arising on vesting.
Application will be made for admission of the RSU Shares to trading on AIM. It is expected that admission will become effective and that dealings in the RSU Shares will commence on AIM at 8:00 a.m. on 17 February 2026. Following admission of the RSU Shares, the Company’s total issued share capital will consist of 465,441,058 common shares of no par value each, and each with voting rights. Given the Company does not hold any common shares in Treasury, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Company.
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name: | 1) Eldur Olafsson 2) Joan Plant |
| 2. | Reason for the notification | |
| a) | Position/status: | 1) Director and Chief Executive Officer 2) Interim COO |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Amaroq Ltd. |
| b) | LEI: | 213800Q21S5JQ6WKCE70 |
| a) | Description of the financial instrument, type of instrument: Identification code: | Common shares of no par value in Amaroq Ltd. ISIN: CA02311U1030 |
| b) | Nature of the transaction: | Vesting under Restricted Share Unit Plan |
| c) | Price(s) and volume(s): | Price(s) Volume(s) 1) CAD 0 1,024,134 2) CAD 0 256,034 |
| d) | Aggregated information: Aggregated volume: Average price: | 1) 1,024,134 ordinary shares 2) 256,034 ordinary shares CAD 0 |
| e) | Date of the transaction(s): | February 12, 2026 |
| f) | Place of the transaction | XOFF |
Awards of the RSUs
The Company also announces that on 12 February 2026, in accordance with the RSU Plan, it granted awards to certain directors and employees, details of which are set out below.
| Award Date | 12 February 2026 |
| Initial Price | CAD 1.04 in respect of Ellert Arnarson and CAD 0.552 in respect of the other participants. |
| Hurdle Rate | 10% p.a. above the Initial Price |
| Total Pool | 10% of the growth in value above the Hurdle rate, not exceeding 10% of the Company’s share capital The number of shares is determined at the Measurement Dates |
| Participant proportions and Number of shares subject to RSU | Eldur Olafsson, CEO 40% 227,824 shares Ellert Arnarson, CFO 12% 1,214,048 shares Joan Plant, Interim COO 10% 56,956 shares James Gilbertson, VP Exploration 10% 56,956 shares Edward Wyvill, Corporate Development 10% 56,956 shares |
| Measurement Date: | 31 December 2025 100% of the Shares will vest on the first anniversary of grant. |
In addition to the awards described above, 69,476 RSUs were also granted to personnel under the RSU Plan, all of which will vest on the first anniversary of the grant date.
Full details of the RSU Plan are available on the Company’s website at https://www.amaroqminerals.com/about/corporate-governance/.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.