- TORM plc (TRMD, Financial) adjusts Long Term Incentive and Retention Programs with new RSUs.
- 148,027 RSUs granted to employees; 33,559 RSUs to Executive Director Jacob Meldgaard.
- The RSUs have a nominal strike price of one U.S. cent and reflect dividend payments.
TORM plc (TRMD) has announced significant adjustments to its Long Term Incentive Program and Retention Program. Following the exercise of 365,096 original Restricted Stock Units (RSUs), the company’s Board of Directors has granted new adjustment RSUs to account for dividend payments since the initial grant date. A total of 148,027 adjustment RSUs will be issued to certain employees as restricted stock options, set with a strike price of one U.S. cent.
Additionally, Executive Director Jacob Meldgaard will be granted 33,559 adjustment RSUs, following his exercise of 85,067 original RSUs granted in 2022. These adjustment RSUs are structured to maintain the same exercise window as the original grants and will not be subject to further dividend adjustments.
TORM plc, founded in 1889, is a leading carrier of refined oil products, operating a fleet of product tanker vessels with a strong focus on safety and environmental responsibility. The company’s shares are listed on Nasdaq in Copenhagen and New York (ticker: TRMD).
