Archer Limited: Grant of Restricted Stock Units to Chairman of the Board
Hamilton, Bermuda (December 11, 2018)
Archer Limited ("Archer" or the "Company") announces that on Tuesday December 11 2018, the Board of Directors have granted 156,400 restricted stock units (RSUs) to the Chairman of the Board Kjell-Erik Østdahl as part of his remuneration structure. The RSUs entitle the recipient to receive one common share for each RSU awarded. The RSUs are non-transferable and one third of the award will vest and be delivered on each of the first three anniversaries following the date of the award provided the employee remains employed at vesting. The total number of RSUs and options outstanding following this grant is 2,267,900 and 1,505,233 respectively.
After this transaction, Mr. Østdahl holds 156,400 RSUs in Archer Limited.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.