IR news

Archer Limited : Grant of Options

Hamilton, Bermuda (March 4, 2014)

The Board of Archer Limited has granted share options to members of its executive management and senior managers. The share options are each granted at a subscription price of NOK 7.18 per share following the close of Oslo Stock Exchange on 3 March 2014. The options will vest 1/3 on 1 March for each of the next three years. The options have a term life from the grant date until 1 March 2020. The below management employees have received new options and are considered Primary Insiders in Archer Limited.

Mr. Christoph Bausch, EVP and Chief Financial Officer, has received 2,100,000 new options, in addition to his previous holdings of 100,000 shares and 400,000 options in Archer Limited. 

Mr. Max Bouthillette, EVP and General Counsel, has received 1,200,000 new options, in addition to his previous holdings of 75,000 shares and 550,000 options in Archer Limited.

Mr. Olivier Muller, EVP and President EMT, has received 1,200,000 new options, in addition to his previous holdings of 12,000 shares and 160,000 options in Archer Limited.

Mr. Carlos Etcheverry, EVP and President LAM, has received 1,200,000 new options, in addition to his previous holdings of 185,437 shares and 241,937 options in Archer Limited.

Mr. John Lechner, EVP and President NSR, has received 900,000 new options, in addition to his previous holdings of 110,000 options in Archer Limited.

Mr. Ted Wooten, EVP and President NAM, has received 750,000 new options, in addition to his previous holdings of 500,000 options in Archer Limited.

In addition, Mr. David King, Chief Executive Officer, is considered a Primary Insider and holds 5,000,000 options in Archer Limited from a previous award.

In addition, 2,900,000 share options have been allocated to other senior managers within the Company.  The total number of options now outstanding in Archer Limited is 22,631,606.   

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