TGS Reports Share Delivery Following 2023 Equity Awards
Delivery of Shares to Carel Hooijkaas from Restricted Units
Today marks an important milestone for TGS as it successfully completes the delivery of shares to Carel Hooijkaas, following the vesting of his 2023 Restricted Share Units. This event is significant as it reflects the company's commitment to maintaining transparency and providing value to its executives.
Details of the Share Transfer
In total, Carel Hooijkaas was granted 15,000 Restricted Share Units, of which 12,536 have now been converted into actual shares. This transfer involves taking shares from TGS’s own treasury stock, ensuring that the process is both efficient and aligned with TGS's operational strategies.
The remaining shares are in fair market value and will be utilized to satisfy withholding taxes and other essential deductions linked to the vesting process. Following this transaction, Carel now holds 50,694 shares in TGS, illustrating his strong alignment with the company’s interests.
TGS’s Commitment to Transparency and Accountability
By regularly updating stakeholders on share transactions like these, TGS reinforces its dedication to transparency and accountability. The company continues to navigate the complexities of modern corporate governance by ensuring that all actions are communicated clearly to shareholders and the market.
About TGS
TGS is a leading provider of advanced data and intelligence solutions tailored for the energy sector. The company leverages cutting-edge technology and an extensive global energy data library to offer insights that empower clients to make informed decisions. TGS’s suite of products is designed to enhance exploration and production activities across the energy landscape.
As TGS continues to push the boundaries of innovation, it remains a trusted partner within the energy community, supporting ongoing initiatives that drive efficiency and sustainability. For anyone looking to explore the depths of energy intelligence, TGS stands out as an essential resource.
Frequently Asked Questions
What are Restricted Share Units?
Restricted Share Units (RSUs) are a form of equity compensation offered to employees, which convert into shares of stock upon meeting certain conditions, such as vesting periods.
Who is Carel Hooijkaas?
Carel Hooijkaas is an executive at TGS who received shares from Restricted Share Units. His ownership reflects his alignment with the company's performance and long-term goals.
How many shares does Carel Hooijkaas own after this transaction?
After the completion of this transaction, Carel Hooijkaas owns a total of 50,694 shares in TGS.
What is the role of treasury shares in share transfers?
Treasury shares are shares that were once part of the outstanding shares but were later repurchased by the company. These shares can be used for various purposes, including compensation plans or mergers and acquisitions.
How does TGS support its employees?
TGS supports its employees through various incentive programs, including equity compensation, which helps align their interests with the company’s overall success and promotes a culture of ownership among staff.
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