Team Tankers International Ltd.: Announces Share Grant

Team Tankers International (“TEAM”) has granted 674,000 restricted shares to key employees, of which 350,000 to primary insiders. 130,000 shares shall vest in July 2020 and 544,000 shares shall vest in December 2020 subject to continued employment.

The following primary insiders were granted share awards:

Mr. Jens Gisle Schnelle has been granted 130,000 restricted shares in the Company. The awards shall vest in July 2020 subject to continued employment. After this grant, Mr. Schnelle holds (1) 1,075 shares in the Company and (2) the right to acquire 330,000 restricted shares in the Company.

Mr. Michael Obling has been granted 65,000 restricted shares in the Company. The awards shall vest in December 2020 subject to continued employment. After this grant, Mr. Obling holds (1) 0 shares in the Company and (2) the right to acquire 65,000 restricted shares in the Company.

Mr. Michael Vilson has been granted 60,000 restricted shares in the Company. The awards shall vest in December 2020 subject to continued employment. After this grant, Mr. Vilson holds (1) 0 shares in the Company and (2) the right to acquire 60,000 restricted shares in the Company.

Ms. Malene Hald Pedersen has been granted 45,000 restricted shares in the Company. The awards shall vest in December 2020 subject to continued employment. After this grant, Ms. Pedersen holds (1) 992 shares in the Company and (2) the right to acquire 45,000 restricted shares in the Company.

Mr. Tim Addis-Jones has been granted 50,000 restricted shares in the Company. The awards shall vest in December 2020 subject to continued employment. After this grant, Mr. Addis-Jones holds (1) 0 shares in the Company and (2) the right to acquire 50,000 restricted shares in the Company.

To date, Team Tankers International Ltd. has issued a total of 209,578,173 shares of which 6,324,076 shares are held by the Company as treasury shares. 

The Board of Directors

Team Tankers International Ltd.

Hamilton, Bermuda

Questions should be directed to: 

Hans Feringa: President and CEO

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Jens Gisle Schnelle: CFO

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This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act