Long Term Incentive Plan Awards
Serica Energy grants nil-cost options over 1.64 million shares to executive team and senior management under LTIP.
- Total shares under options 1,640,464 ordinary shares
- Percentage of issued share capital 0.4168%
- CEO award (Christopher Cox) 523,255 shares
- CFO award (Martin Copeland) 264,534 shares
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London, 17 April 2026 - Serica Energy plc (AIM: SQZ) announces that on 16 April 2026, the Company has granted nil-cost options over a total of 1,640,464 ordinary shares (the "Awards") of US$0.10 each (representing approximately 0.4168% of the Company's issued share capital) in accordance with the rules of the Serica Energy plc 2017 Long Term Incentive Plan ("LTIP"). The award has been made to members of the Group's executive team and senior management.
The Awards include nil-cost options over a total of 787,789 ordinary shares of US$0.10 each to executive directors as set out in the table below and are subject to vesting criteria that are designed to incentivise performance that delivers value for all shareholders.
The vesting criteria is subject to achievement of a relative TSR performance target, measured at the end of a three-year performance period commencing on 1 April 2026. Full details of the relative TSR performance target is detailed in the Company's Annual Report and Accounts that will be published to shareholders shortly.
| Director / PDMR | Position | Number of shares awarded | |
| Christopher Cox | Chief Executive Officer | 523,255 | |
| Martin Copeland | Chief Financial Officer | 264,534 | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Christopher Cox | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer | |
| b) | Initial notification/Amendment | Initial Notification | |
| a) | Name | Serica Energy plc | |
| b) | LEI | 213800EZZOKA815VC426 | |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of US$0.10 per share par value | |
| Identification code | GB00B0CY5V57 | ||
| b) | Nature of the transaction | Award of options under the LTIP | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| N/A | 523,255 | ||
| d) | Aggregated information | N/A (single transaction) | |
| Aggregated volume | |||
| Price | |||
| e) | Date of the transaction | 16 April 2026 | |
| f) | Place of the transaction | Outside a trading venue | |
Details of the person discharging managerial responsibilities / person closely associated
| Name | Martin Copeland | |
| Reason for the notification | ||
| Position/status | Chief Financial Officer | |
| Initial notification/Amendment | Initial Notification | |
| Name | Serica Energy plc | |
| LEI | 213800EZZOKA815VC426 | |
| Description of the financial instrument, type of instrument | Ordinary shares of US$0.10 per share par value | |
| Identification code | GB00B0CY5V57 | |
| Nature of the transaction | Award of options under the LTIP | |
| Price(s) and volumes(s) | Price(s) | Volume(s) |
| N/A | 264,534 | |
| Aggregated information | N/A (single transaction) | |
| Aggregated volume | ||
| Price | ||
| Date of the transaction | 16 April 2026 | |
| Place of the transaction | Outside a trading venue | |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.