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LONDON - Pantheon Resources plc (AIM:PANR), an oil and gas company developing projects on Alaska’s North Slope, announced Thursday it has granted 2.5 million options to senior employees under its Employee Stock Ownership Plan (ESOP).
The grants include previously announced awards of 750,000 options each to Chief Financial Officer Tralisa Maraj and Chief Development Officer Erich Krumanocker. These options include both time-based and performance-based components with an exercise price of $0.40.
The time-based options (250,000 each) will vest 25% annually starting July 2025, while the performance-based options (500,000 each) are tied to specific company milestones. Maraj’s performance options are linked to achieving final investment decision (FID) for the Ahpun Project by December 31, 2028, and securing a U.S. exchange listing by July 31, 2026. Krumanocker’s performance options are tied to the Ahpun Project FID.
Additionally, both executives received 375,000 Restricted Stock Units (RSUs) that will vest in three annual tranches beginning April 2026.
The company also reported that 2,817,090 RSUs have vested under the ESOP program announced in October 2024. Following the vesting, Chairman David Hobbs will hold 4,238,334 shares (0.34% of issued share capital) while John Cheatham will hold 4,868,580 shares (0.39%).
Pantheon has applied for a block listing of 12,132,899 ordinary shares on the London Stock Exchange (LON:LSEG) to satisfy future exercises of options and RSUs. The company’s total issued share capital will increase to 1,239,166,443 ordinary shares following the issuance of the vested RSUs.
The information was disclosed in a regulatory news service announcement based on a company press release.
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