Frontline Ltd.
oslo : FRO

April 11, 2011 02:06 ET

FRO - Share incentive program 2011

HAMILTON, NORWAY--(Marketwire - Apr 11, 2011) - The Board of Frontline Ltd. has approved a grant of 145,000 share options under the terms of the existing Share Option Scheme. The purpose of the Share Option Scheme is to promote long-term employment and align the long-term interest of shareholders and senior employees. The share options will have a five-year term and will vest equally one third each year over a three-year vesting period. The strike price for the options has been set to NOK 131.10 per share. Out of the total number of options 60,000 have been awarded to Primary Insiders.

The following Primary Insiders have received share options:

 Jens Martin Jensen   20,000

 Inger M. Klemp       20,000

 Graham Baker         20,000

New total holdings for the same Primary Insiders are:

                      Shares   Share options

 Jens Martin Jensen   0        70,000

 Inger M. Klemp       16,000   70,000

 Graham Baker         0        50,000

April 8, 2011
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

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

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Frontline Ltd. via Thomson Reuters ONE


Contact Information

  • Questions should be directed to:
    Jens Martin Jensen
    Chief Executive Officer
    Frontline Management AS

    Inger M. Klemp
    Chief Financial Officer
    Frontline Management AS
    +47 23 11 40 00