WorldStage– Independent energy supplier Seplat Energy PLC has formally announced the grant of share awards to key executive directors under the company’s 2024 Long Term Incentive Plan (LTIP).
In a disclosure issued by Company Secretary Edith Onwuchekwa in compliance with Article 19(3) of the EU Market Abuse Regulation, the transactions, executed on August 18, 2026, cover both performance-linked incentives for the 2026 financial year and deferred shares stemming from the 2025 annual bonus.
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Key Executive Share Allocations
The share distribution targets three members of the executive leadership team:
| Executive Director | Position | 2026 LTIP Shares | Deferred Shares (2025 Bonus) | Total Shares Granted |
| Effiong Okon | Chief Executive Officer | 194,512 | 41,060 | 235,572 |
| Samson Ezugworie | Chief Operations Officer | 123,582 | 41,202 | 164,784 |
| Eleanor Adaralegbe | Chief Financial Officer | 117,550 | 39,191 | 156,741 |
Grant Structure and Pricing Basis
2026 LTIP Awards: The share allocations were calculated using a 5-day average closing price of £6.106 per share prior to the award date. Vesting depends on meeting individual and corporate performance benchmarks alongside continuous service across a three-year period that commenced on January 1, 2026. Once vested, the shares will be bound by a mandatory two-year holding period.
Deferred Share Awards: Representing 25% of each director’s 2025 annual performance bonus, these awards were calculated using Seplat’s closing share price of £2.84 on December 31, 2025, in compliance with the shareholder-approved Directors’ Remuneration Policy. These shares are expected to vest and release on December 31, 2027.
Governance and Compliance
Seplat confirmed that no financial consideration was paid by the directors to receive the awards, nor is any payment required upon vesting.
