Mr. Feringa has today received 282,723 shares (net post tax) (the "Vested Shares"). Mr. Feringa has not paid any cash consideration for the Vested Shares. Following the distribution of the Vested Shares, Mr. Feringa is the owner of 753,928 shares and has a right to acquire a further 1,413,616 shares under the equity award as announced on 1 September 2015.
After this transaction, the Company has outstanding equity awards in respect of a total of 4,003,409 shares. The Company has issued to date a total of 188,482,074 shares of which 387,148 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
T: +1 203 221 3420
Kevin Kilcullen: CFO
T: +1 203 221 3433