Arrow Exploration grants stock options in Calgary on September 12, 2024
- Arrow Exploration Corp. granted 4,332,221 stock options to its Directors, officers, and employees on September 12, 2024.
- The options have a strike price of CAD 0.475 and will vest in thirds over three years, expiring six months after vesting.
- This grant is part of the Company's Stock Option Plan, which allows for the issuance of options up to 10% of the outstanding common shares.
On September 12, 2024, Arrow Exploration Corp., a high-growth operator in the Colombian hydrocarbon sector, announced a significant stock options grant. The Company issued a total of 4,332,221 stock options to its Directors, officers, and employees, reflecting its commitment to incentivizing key personnel. This move is part of Arrow's broader strategy to enhance its operational capabilities and attract talent in a competitive market. The stock options have a strike price set at CAD 0.475 and are structured to vest in thirds over a three-year period. This vesting schedule is designed to align the interests of the management team with those of the shareholders, encouraging long-term performance and retention. Additionally, the options will expire six months after they vest, providing a clear timeline for exercising these options. Following this grant, Arrow Exploration will have a total of 27,663,334 options issued under its Stock Option Plan, which permits the issuance of options up to 10% of the total outstanding common shares. This strategic decision underscores the Company's focus on growth and its potential in the underexplored Colombian oil market. Overall, the stock options grant is a proactive step by Arrow Exploration to strengthen its leadership team and support its ambitious growth plans in the hydrocarbon industry, particularly as it navigates the challenges and opportunities presented by the current market landscape.