As previously announced on 1 September 2015, Mr. Hans Feringa, President & CEO of Team Tankers International Ltd. (the "Company"), have on certain conditions been granted equity awards in the Company as a part of his long term incentive program.
Mr. Feringa has today received the first 20% of the shares awarded to him, corresponding to 471,205 restricted shares. The shares received today are subject to a lock up and may not be sold for one year following today's date. Mr. Feringa shall not pay any cash consideration for the shares.
After this transaction, Mr. Feringa holds 471,205 restricted shares and he has a right to acquire further 1,884,821 shares under the equity award as announced on 1 September 2015. The total number of awards issued in the Company is 3,062,834 and the Company has issued 188,482,074 shares, of which the Company owns 528,795 treasury shares.
The Board of Directors
Team Tankers International Ltd.
Hamilton, Bermuda
Hans Feringa: President & CEO
T: +1 203 221 3420
Andreas Reklev: CFO
T: +47 2311 4321