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HAMILTON, Bermuda - Flex LNG Ltd (NYSE:FLNG), a liquefied natural gas carrier operator with a market capitalization of $1.3 billion and impressive gross margins of 78.5%, has approved a long-term incentive plan that includes granting up to 187,142 synthetic options to company management and employees, according to a press release statement issued today. InvestingPro analysis indicates the company maintains strong financial health with a "GOOD" overall rating.
The synthetic options have a five-year term expiring June 24, 2030, with a three-year vesting schedule. One-third of the options will vest annually on June 24 of 2026, 2027, and 2028.
The exercise price is set at $23.75 and will be adjusted for any dividend distributions made before exercise. For the CEO and CFO, maximum annual gains are capped at twice their annual base salary at the time of exercise.
Unlike traditional stock options, these synthetic options will be settled in cash, based on the difference between the market price of company shares and the exercise price on the exercise date.
The company noted that the synthetic options have been granted according to rules approved by Flex LNG’s Board of Directors. The disclosure was made in compliance with regulatory requirements under EU Regulation 596/2014 and Norwegian Securities Trading Act.
Flex LNG, headquartered in Bermuda, specializes in the ownership and operation of liquefied natural gas carriers.
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