Restricted Stock Unit Awards

RNS Number : 3231V

Diversified Gas & Oil PLC

02 November 2017

 

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	[phone]
Smith & Williamson Corporate Finance Limited (Nominated Adviser & Joint Broker) Russell Cook, Katy Birkin	[phone]
Mirabaud Securities Limited (Lead Broker) Peter Krens, Edward Haig-Thomas	[phone]
Buchanan (Financial Public Relations) Ben Romney, Chris Judd, Henry Wilson [e-mail]	[phone]

 

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