Sign In
2 Nov 2017 07:00
2 November 2017
Diversified Gas & Oil PLC
("DGO", the "Company" or the "Group")
Restricted Stock Unit Awards
Diversified Gas & Oil PLC, the US based gas and oil producer, is pleased to announce that on 1 November 2017, the following restricted stock units, to be settled upon vesting in ordinary shares of 1p each in the Company ("Restricted Stock Units"), were granted to certain of the Company's senior management pursuant to individual restricted stock unit award agreements (the "Award Agreements") under the Company's equity incentive plan (the "Plan"). Restricted stock units are a customary form of equity award in the United States and are similar to share options in the United Kingdom, but without the payment of an exercise price.
Employee | Position | Number of Restricted Stock Units granted | Vesting date(s) (vesting in equal instalments) |
Bob Cayton | Senior Vice President of Operations | 150,000 | Nov 2018, Nov 2019 and Nov 2020 |
Eric Williams
| Chief Financial Officer | 110,000 | July 2018 and July 2019 |
Jack Crook | Senior Vice President of Environmental, Health and Safety | 85,002 | Nov 2018, Nov 2019 and Nov 2020 |
Drew Adamo | Vice President of Operations (North Pennsylvania) | 75,000 | Nov 2018, Nov 2019 and Nov 2020 |
Rusty Hutson, Sr | Vice President of Operations (West Virginia & South Ohio) | 75,000 | Nov 2018, Nov 2019 and Nov 2020 |
Rich Palya | Vice President of Operations (South Pennsylvania) | 75,000 | Nov 2018, Nov 2019 and Nov 2020 |
Thomas Vosick | Vice President of Operations (North Ohio) | 75,000 | Nov 2018, Nov 2019 and Nov 2020 |
Total | 645,002 |
Under the terms of the Award Agreements, the Restricted Stock Units are scheduled to vest in one or more instalments upon the completion of a specified period of continuous service to the Company or a subsidiary of the Company. In the event that the individual's service to the Company or a subsidiary terminates prior to the vesting of the Restricted Stock Units (subject to certain exceptions), such Restricted Stock Units shall be automatically forfeited to the Company upon such termination. Promptly following the vesting date, the Company will issue to the individual a number of ordinary shares in the Company equal to the number of vested Restricted Stock Units upon payment by the Company of the aggregate nominal value of the ordinary shares.
The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Bob Cayton | |
2 | Reason for the notification | ||
a) | Position/status |
Senior Vice President of Operations/PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Diversified Gas & Oil PLC | |
b) | LEI | 213800YR9TFRVHPGOS67 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted stock units constituting a right to acquire ordinary shares of 1p each | |
Identification code | GB00BYX7JT74 | ||
b) | Nature of the transaction | Grant of restricted stock units under the Company's equity incentive plan | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0 | 150,000 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 1 November 2017 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Eric Williams | |
2 | Reason for the notification | ||
a) | Position/status |
Chief Financial Officer/PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Diversified Gas & Oil PLC | |
b) | LEI | 213800YR9TFRVHPGOS67 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted stock units constituting a right to acquire ordinary shares of 1p each | |
Identification code | GB00BYX7JT74 | ||
b) | Nature of the transaction | Grant of restricted stock units under the Company's equity incentive plan | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0 | 110,000 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 1 November 2017 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |
Details of the person discharging managerial responsibilities / person closely associated | |||
a) | Name | Jack Crook | |
2 | Reason for the notification | ||
a) | Position/status |
Senior Vice President of Environmental, Health and Safety/PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Diversified Gas & Oil PLC | |
b) | LEI | 213800YR9TFRVHPGOS67 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted stock units constituting a right to acquire ordinary shares of 1p each | |
Identification code | GB00BYX7JT74 | ||
b) | Nature of the transaction | Grant of restricted stock units under the Company's equity incentive plan | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0 | 85,002 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 1 November 2017 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Rusty Hutson, Sr | |
2 | Reason for the notification | ||
a) | Position/status |
Vice President of Operations - West Virginia & South Ohio/PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Diversified Gas & Oil PLC | |
b) | LEI | 213800YR9TFRVHPGOS67 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted stock units constituting a right to acquire ordinary shares of 1p each | |
Identification code | GB00BYX7JT74 | ||
b) | Nature of the transaction | Grant of restricted stock units under the Company's equity incentive plan | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0 | 75,000 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 1 November 2017 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Rich Palya | |
2 | Reason for the notification | ||
a) | Position/status |
Vice President of Operations - South Pennsylvania/PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Diversified Gas & Oil PLC | |
b) | LEI | 213800YR9TFRVHPGOS67 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted stock units constituting a right to acquire ordinary shares of 1p each | |
Identification code | GB00BYX7JT74 | ||
b) | Nature of the transaction | Grant of restricted stock units under the Company's equity incentive plan | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0 | 75,000 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 1 November 2017 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Drew Adamo | |
2 | Reason for the notification | ||
a) | Position/status |
Vice President of Operations- North Pennsylvania/PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Diversified Gas & Oil PLC | |
b) | LEI | 213800YR9TFRVHPGOS67 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted stock units constituting a right to acquire ordinary shares of 1p each | |
Identification code | GB00BYX7JT74 | ||
b) | Nature of the transaction | Grant of restricted stock units under the Company's equity incentive plan | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0 | 75,000 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 1 November 2017 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Thomas Vosick | |
2 | Reason for the notification | ||
a) | Position/status |
Vice President of Operations - North Ohio/PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Diversified Gas & Oil PLC | |
b) | LEI | 213800YR9TFRVHPGOS67 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted stock units constituting a right to acquire ordinary shares of 1p each | |
Identification code | GB00BYX7JT74 | ||
b) | Nature of the transaction | Grant of restricted stock units under the Company's equity incentive plan | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0 | 75,000 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 1 November 2017 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |
Diversified Gas & Oil PLC Rusty Hutson Jr., Chief Executive Officer Brad Gray, Finance Director/Chief Operating Officer Eric Williams, Chief Financial Officer/ Investor Relations www.diversifiedgasandoil.com | +1 205 408 0909 |
Smith & Williamson Corporate Finance Limited (Nominated Adviser & Joint Broker) Russell Cook, Katy Birkin | +44 (0)20 7131 4000 |
Mirabaud Securities Limited (Lead Broker) Peter Krens, Edward Haig-Thomas | +44 (0)20 3167 7221 |
Buchanan (Financial Public Relations) Ben Romney, Chris Judd, Henry Wilson dgo@buchanan.uk.com | +44 (0)20 7466 5000 |
Follow the stocks
