Seplat Energy PLC grants LTIP awards to executives in 2026

Seplat Energy PLC has notified the market of share awards granted to three Executive Directors under its 2024 Long Term Incentive Plan (LTIP) on 18 August 2026.

The 2026 LTIP Awards were calculated using a five-day average closing share price of £6.106 prior to the grant date. CEO Effiong Okon received 194,512 shares, Chief Operations Officer Samson Ezugworie received 123,582 shares, and Chief Financial Officer Eleanor Adaralegbe received 117,550 shares under this tranche.

Separately, Deferred Share Awards linked to the 2025 Annual Performance Bonus were also granted. Under the company's Directors' Remuneration Policy, 25% of each executive's annual performance bonus is deferred into shares. These were calculated using Seplat's closing share price of £2.84 on 31 December 2025. Okon received 41,060 deferred shares, Ezugworie received 41,202, and Adaralegbe received 39,191.

No consideration was paid for any of the awards, and none is due upon vesting. The 2026 LTIP Awards are subject to a three-year performance period beginning 1 January 2026, followed by a two-year post-vesting holding period. The Deferred Share Awards are scheduled to vest on 31 December 2027, subject to continued employment.