Mark Anthony Lovell Mey awarded 135,000 share options by Paratus Energy Services

On November 27, 2024, in Hamilton, Bermuda, Mark Anthony Lovell Mey, a board member and primary insider of Paratus Energy Services Ltd., received an allocation of 135,000 share options as part of the company’s long-term incentive plan. This decision reflects the company's strategy to incentivize its board members and align their interests with shareholders. The options granted have an initial strike price set at NOK 51.7 per share, along with an annual performance addition of 7.5% for the duration of the vesting period. This performance-driven approach to equity compensation is intended to reward insiders for increasing shareholder value over time. The specifics of the share options detail their five-year term, wherein they will vest in three separate tranches over a period of three years, with one-third of the options vesting each year. Notably, the value of each of these vested tranches is capped at USD 100,000, ensuring that the company manages its compensation expenses while still providing meaningful incentives to the executives involved. Adjustments will be made to the exercise price for any distributions made on the shares prior to the exercise of the options, which is a common practice to protect the interests of option holders. Paratus Energy Services Ltd. operates as an investment holding company, having interests in various energy service companies. Its main assets include ownership in Fontis, which is an offshore drilling company managing five high-specification jack-up rigs deployed under contracts in Mexico. Furthermore, Paratus holds a significant stake in Archer Ltd., another oil services company traded on the Oslo Stock Exchange. This strategic positioning of Paratus within the energy sector demonstrates its commitment to maintaining influence and presence in the rapidly evolving energy landscape. The grant of share options to Mark Anthony Lovell Mey aligns with the broader trend in the corporate governance structure, where companies use equity compensation as a means to incentivize performance among key decision-makers. This move showcases Paratus Energy Services Ltd.'s alignment with best practices in corporate governance, focusing on performance-based reward structures designed to foster long-term growth and shareholder value. The disclosures made are subject to the regulatory requirements imposed by Articles 19 of the Regulation EU 596/2014 and Section 5-12 of the Norwegian Securities Trading Act, underscoring the transparency and regulatory compliance of the company’s actions.