GlobeNewswire by notified

Cool Company Ltd. - Approval of Long-Term Incentive Plan

Share

Bermuda, November 25, 2022: The board of directors (the “Board”) of Cool Company Ltd. (“CoolCo” or the “Company”) has resolved to implement a long-term incentive plan (the “LTIP”) for employees, management and board members of the Company and its affiliates. The overall purpose of the LTIP is to promote the success of the Company for the benefit of its shareholders, by providing a framework for the retention and incentivization of employees using the Company’s equity and thereby aligning their interests with the Company and its affiliates.

The LTIP provides for the grant of equity awards, with the intention being for the initial awards to be granted as options (“Options”) and restricted stock units (the “RSUs”), as further detailed below. Shares used under the LTIP are expected to be covered by the Board's authorization to issue authorized and unissued shares in connection with a grant of warrants, options or other securities with rights to convert such securities into shares of the Company, pursuant to the bye-laws of the Company.

The Board also resolved that the number of shares in the Company to be used for awards granted under the LTIP will be approved by the Board on an annual basis.

(i) Options:

Pursuant to the LTIP, Options will be granted at an exercise price to be determined as at the date of grant (with the initial Options to be granted with an exercise price of $10). The initial recipients of Options will be management and directors of the Company and its affiliates. Options will vest subject to a vesting schedule as determined at grant, with the initial Options vesting equally in four installments on each of November 30, 2023, November 29, 2024, November 30, 2025, and November 30, 2026. The LTIP rules allow the Company to determine the exercise price and applicable vesting and performance conditions for future awards as appropriate. Options may be exercised from the vesting date and will lapse and become void on the 10th anniversary of the grant date if not exercised. Upon exercise of the Options, the holder will receive one share per Option in CoolCo at the exercise price. Where a grantee ceases employment by reason of death, disability or termination without cause (or for any other reason at the discretion of CoolCo), Options will vest immediately. Where a grantee ceases employment for any other reason, any unvested Options will immediately lapse.

The Options will be granted under the terms of an option agreement (the “Option Agreement”) and the LTIP, and a duly completed Option Agreement will be provided to each proposed grantee, for each individual to enter into with the Company in order to effect the grant of their Option.

A grant of Options according to the LTIP in one year does not entitle the grantee to receive Options or any other award under the LTIP in subsequent years.

(ii) RSUs:

Pursuant to the LTIP, RSUs vest into shares of the Company (“RSUs”).  The RSUs vest subject to a vesting schedule to be determined at grant.  It is intended that the RSUs initially be operated for Norwegian employees, and employees in certain other jurisdictions. The initial RSUs will vest equally in four installments on each of November 30, 2023, November 29, 2024, November 30, 2025, and November 30, 2026. The LTIP rules allow the Company to determine applicable vesting and performance conditions for future awards as appropriate. Where a grantee ceases employment by reason of death, disability or termination without cause (or for any other reason at the discretion of CoolCo), RSUs will vest immediately. Where a grantee ceases employment for any other reason, any unvested RSUs will immediately lapse. The RSUs will be granted under the terms of an RSU agreement (the “RSU Agreement”) and the LTIP, and a duly completed RSU Agreement will be provided to each proposed grantee, for each individual to enter into with the Company in order to effect the grant of their RSUs.

A grant of RSUs according to the LTIP in one year does not entitle the grantee to receive RSUs or any other award under the LTIP in subsequent years.

ABOUT COOLCO

CoolCo is a growth-oriented owner, operator and manager of fuel-efficient liquefied natural gas (“LNG”) carriers. Using its integrated, in-house vessel management platform, CoolCo provides charterers and third-party LNG vessel owners with modern and flexible management and transportation solutions, delivering a lesser-emitting form of energy that supports decarbonization efforts, economic growth, energy security, and improvements in quality of life. CoolCo also intends to leverage its industry relationships to make further accretive acquisitions of in-service LNGCs, and to selectively pursue newbuild opportunities.

Additional information about CoolCo can be found at www.coolcoltd.com.

For further information, please contact:

Richard Tyrrell, CEO
Email: richard.tyrrell@coolcoltd.com
Phone: +44 2076591111
John Boots, CFO
Email: john.boots@coolcoltd.com
Phone: +44 2076591111

This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.


To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Zoom to Release Financial Results for the Fourth Quarter and Full Fiscal Year 20231.2.2023 22:05:00 CET | Press release

SAN JOSE, Calif., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Zoom Video Communications, Inc. (NASDAQ: ZM) today announced it will release its financial results for the fourth quarter and full fiscal year 2023 on Monday, February 27, 2023, after the market closes. A live Zoom Video Webinar of the event can be accessed at 2:00 pm PT / 5:00 pm ET through Zoom’s investor relations website at https://investors.zoom.us. A replay will be available approximately two hours after the conclusion of the live event. About Zoom Zoom is for you. Zoom is a space where you can connect to others, share ideas, make plans, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for large enterprises, small businesses, and individuals alike. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and

CORRECTION: Boyden Appoints Distinguished Talent Solutions Leader Chad Hesters President & CEO1.2.2023 20:23:02 CET | Press release

Succession planning for Trina Gordon’s retirement, led by Chairman Craig Stevens, results in marquee hire Chad Hesters New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Correction: The original hyperline for "Chad Hesters" was incorrect. This has been rectified. Boyden, a premier leadership and talent advisory firm with more than 70 offices in over 45 countries, is delighted to announce the appointment of Chad Hesters as President & CEO, effective immediately. He takes the reins from Trina Gordon, who retires after 12 years as CEO, 3 years as Chair, and 30+ years as a Managing Partner in the firm. “I am honored to be appointed President & CEO of Boyden,” commented Chad Hesters. “I have long admired Trina Gordon for her leadership and her custodianship of one of the oldest, global heritage brands in our industry. Boyden has a unique, collaborative culture that puts clients at the heart of their business. This collegial community is distinctive and aligns well with my style of engagement in th

Nokia Corporation: Repurchase of own shares on 01.02.20231.2.2023 20:00:00 CET | Press release

Nokia Corporation Stock Exchange Release 1 February 2023 at 21:00 EET Nokia Corporation: Repurchase of own shares on 01.02.2023 Espoo, Finland – On 1 February 2023 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL267,9884.36CEUX32,5604.36AQEU11,2214.35TQEX4,1314.36Total315,9004.36 * Rounded to two decimals On 3 February 2022, Nokia announced that its Board of Directors is initiating a share buyback program under the authorization granted by Nokia’s Annual General Meeting on 8 April 2021 to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The second phase of the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 5 April 2022 started on 2 January 202

HqO Releases 2023 ‘The State of Workplace Experience’ Report1.2.2023 19:18:11 CET | Press release

New research measures shifts in employee sentiment post-pandemic, emphasizing importance of social infrastructure in the workplace BOSTON, Feb. 01, 2023 (GLOBE NEWSWIRE) -- HqO, the world’s leading workplace experience platform, today announced the release of its annual “The State of Workplace Experience” report, a research-driven analysis of how the workplace and overall employee sentiment have evolved over the past year and what trends will emerge in 2023 as more workers are called back to the office. Featuring proprietary data from research firms Gartner and Leesman, an HqO company, the 2023 report details a shift in how employees perceive and use the workplace, from an environment where the full scope of their work gets done – focused and individual activities, as well as group meetings – to a space that supports more spontaneous collaboration and interaction. Highlights include: From before the start of the pandemic to 2021-22, the percentage of respondents who said informal socia

REPURCHASE OF SHARES1.2.2023 18:30:00 CET | Press release

REPURCHASE OF SHARES Amsterdam, the Netherlands - Flow Traders Ltd. (“Flow Traders”) (Euronext: FLOW) has repurchased50,431of its own shares in the period from 26 January 2023 up to and including1February 2023 at an average price of €23.41. This is in accordance with the share buyback program originally announced on 22 July 2022 and subsequently increased as per the announcement made on 27 October 2022. The consideration of this purchase was €1.2 million. The total number of shares purchased under this program to date is 1,137,890 shares at an average price of €21.29 for a total consideration of €24.2 million. 3,491,110 shares were held in treasury as at 1 February 2023. Contact Details Flow Traders Ltd. Jonathan Berger / Investor Relations Officer Phone: +31 20 7996149 Email: investor.relations@flowtraders.com About Flow Traders Flow Traders is a leading global financial technology-enabled liquidity provider in financial products, historically specialized in Exchange Traded Products (