Flex LNG Ltd. announced on June 24, 2025, that its Board of Directors has approved a new long-term incentive plan (LTIP). Under this plan, up to 187,142 synthetic options have been granted to the company's management and employees.
These synthetic options have a five-year term, expiring on June 24, 2030, and will vest over a three-year period. One-third of the options will vest on June 24, 2026, another third on June 24, 2027, and the final third on June 24, 2028.
The exercise price for the synthetic options is USD 23.75, which will be adjusted for any dividends distributed before exercise. The options granted to the CEO and CFO are subject to a maximum annual gain cap equal to two times their annual base salary at the time of exercise, and will be settled in cash based on the difference between the market price and the exercise price.
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