Director/PDMR Shareholding
Tullow Oil PLC announced on October 7, 2025, the grant of nil-cost options under the 2023 Executive Share Plan to its Chief Executive Officer and Chief Financial Officer. Ian Perks, the CEO, was granted options over 6,788,390 ordinary shares of £0.10 each at a price of £0.1068 per share on October 3, 2025. Richard Miller, the CFO, received options over 6,519,755 ordinary shares of £0.10 each at £0.15338 per share on March 28, 2025. The vesting of these awards is contingent upon meeting specific total shareholder return targets over a three-year period from 2025 to 2028, followed by a two-year holding period. The transactions took place on the London Stock Exchange.
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Tullow announces that the following nil-cost option awards ("Awards") over its ordinary shares of £0.10 pence each ("Shares") were made under 2023 Executive Share Plan ("2023 ESP") to Ian Perks, Chief Executive Officer and Richard Miller, Chief Financial Officer of the Company.
The vesting of the Awards depends upon the extent to which specified total shareholder return targets are met over a three-year performance period from 2025-2028. Following any such vesting, the Awards granted will be subject to a further two year "holding period" during which it cannot be exercised.
Ian Perks
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Ian Perks | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer | |
| b) | Initial notifications /Amendments | Initial notification | |
| a) | Name | Tullow Oil plc | |
| b) | LEI | 2138003EYHWO75RKS857 | |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each GB0001500809 | |
| b) | Nature of the transactions | Grant of nil price options at £0.1068 per Share pursuant to the 2023 ESP. | |
| c) | Price(s) and volume(s) | Price(s) Nil | Volume(s) 6,788,390 |
| d) | Aggregated information - Aggregated volume - Price | 6,788,390 Nil | |
| e) | Date of the transactions | 03.10.2025 | |
| f) | Place of the transactions | London stock Exchange | |
| Richard Miller | |||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Richard Miller | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Financial Officer | |
| b) | Initial notifications /Amendments | Initial notification | |
| a) | Name | Tullow Oil plc | |
| b) | LEI | 2138003EYHWO75RKS857 | |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each GB0001500809 | |
| b) | Nature of the transactions | Grant of nil price options at £0.15338 per Share pursuant to the 2023 ESP. | |
| c) | Price(s) and volume(s) | Price(s) Nil | Volume(s) 6,519,755 |
| d) | Aggregated information - Aggregated volume - Price | 6,519,755 Nil | |
| e) | Date of the transactions | 28.03.2025 | |
| f) | Place of the transactions | London stock Exchange | |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.