8 March 2021
PDMR notification
VAALCO Energy, Inc. ("VAALCO" or "Company") announces that on 3 March 2021, restricted shares in the Company ("Common Shares") were issued to persons discharging managerial responsibility in the Company as listed below. The Common Shares will be allotted in proportions over a three-year period at a price of $3.14.
| Name | Role | Nature of transaction | Number of Common Shares |
| Cary Bounds | CEO and COO | Award of restricted shares of common stock | 133,758 |
| Elizabeth Prochnow | CFO | Award of restricted shares of common stock | 33,439 |
| David DesAutels | EVP, Corp. Dev. | Award of restricted shares of common stock | 26,115 |
| Michael Silver | EVP, GC & Corp. Secretary | Award of restricted shares of common stock | 33,439 |
| Jason Doornik | CAO & Controller | Award of restricted shares of common stock | 25,096 |
VAALCO announces that on 3 March 2021, Performance Options ("Performance Options") were granted to persons discharging managerial responsibility in the Company as listed below. These will convert into Common Shares and will vest over a three-year period after the grant date, subject to the performance conditions attached to each allocation being met. The Performance Shares were issued at the grant price indicated below.
| Name | Role | Nature of transaction | Number of Common Shares over which the options have been granted | Price per share ($) |
| Cary Bounds | CEO and COO | Award of Performance Options | 211,055
| 3.14 |
| Elizabeth Prochnow | CFO | Award of Performance Options | 52,764
| 3.14 |
| David DesAutels | EVP, Corp. Dev. | Award of Performance Options | 41,206
| 3.14 |
| Michael Silver | EVP, GC & Corp. Secretary | Award of Performance Options | 52,764
| 3.14 |
About VAALCO
VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.
The Company is an established operator within the region, holding a 58.8% working interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 120 million barrels of crude oil and of which the Company is the operator.
For Further Information
| VAALCO Energy, Inc. (General and Investor Enquiries) | +00 1 713 623 0801
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| Website: | |
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| Al Petrie Advisors (US Investor Relations) | +00 1 713 543 3422 |
| Al Petrie / Chris Delange |
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| Buchanan (UK Financial PR) |
+44 (0) 207 466 5000 |
| Ben Romney / Chris Judd / James Husband |
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Notification of dealings in shares by PDMR's of the Company:
| 1. | Details of PDMR / PDMR Associate | |
| (a) | Name | Cary Bounds |
| (b) | Position / status | Chief Executive Officer & Chief Operating Officer |
| (c) | Initial notification / amendment | Initial Notification |
| 2. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| (a) | Description of the financial instrument | Award of restricted shares of common stock |
| (b) | Price (s) and volume(s) | Price: $3.14 Volume: 133,758 Total: $420,000.12 US Dollar |
| (c) | Nature of the transaction | Award of common stock on the vesting of performance options
|
| (d) | Price(s) and volume(s) | Price: $3.14 Volume: 211,055 Total: $662,712.70 US Dollar |
| (e) | Aggregated information Aggregated volume Price
Aggregated information Aggregated volume Price |
Volume: 133,758 Price: $3.14
Volume: 211,055 Price: $3.14
|
| (f) | Date of the transaction | March 3, 2021 |
| (g) | Place of the transaction | USA |
|
1. | Details of PDMR / PDMR Associate | |
| (a) | Name | Elizabeth Prochnow |
| (b) | Position / status | Chief Financial Officer |
| (c) | Initial notification / amendment | Initial Notification |
| 2. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| (a) | Description of the financial instrument | Award of restricted shares of common stock |
| (b) | Price(s) and volume(s) | Price: $3.14 Volume: 33,439 Total: $104,998.46 US Dollar |
| (c) | Nature of the transaction | Award of common stock on the vesting of performance options |
| (d) | Price(s) and volume(s) | Price: $3.14 Volume: 52,764 Total: $165,678.96 US Dollar |
| (e) | Aggregated information Aggregated volume Price
Aggregated Information Aggregated volume Price |
Volume: 33,439 Price: $3.14
Volume: 52,764 Price: $3.14 |
| (f) | Date of the transaction | March 3, 2021 |
| (g) | Place of the transaction | USA |
| 1. | Details of PDMR / PDMR Associate | |
| (a) | Name | David DesAutels |
| (b) | Position / status | Executive Vice President, Corporate Development |
| (c) | Initial notification / amendment | Initial Notification |
| 2. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| (a) | Description of the financial instrument | Award of restricted shares of common stock |
| (b) | Price(s) and Volume(s) | Price: $3.14 Volume: 26,115 Total: $82,001.10 US Dollar |
| (c) | Nature of the transaction | Award of common stock on the vesting of performance options |
| (d) | Price(s) and volume(s) | Price: $3.14 Volume: 41,206 Total: $129,386.84 US Dollar |
| (e) | Aggregated information Aggregated volume Price
Aggregated Information Aggregated volume Price |
Volume: 26,115 Price: $3.14
Volume: 41,206 Price: $3.14
|
| (f) | Date of the transaction | March 3, 2021 |
| (g) | Place of the transaction | USA |
| 1. | Details of PDMR / PDMR Associate | |
| (a) | Name | Michael Silver |
| (b) | Position / status | Executive Vice President, General Counsel & Corporate Secretary |
| (c) | Initial notification / amendment | Initial Notification |
| 2. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| (a) | Description of the financial instrument | Award of restricted shares of common stock |
| (b) | Price(s) and Volume(s) | Price: $3.14 Volume: 33,439 Total: $104,998.46 US Dollar |
| (c) | Nature of the transaction | Award of common stock on the vesting of performance options |
| (d) | Price(s) and volume(s) | Price: $3.14 Volume: 52,764 Total: $165,678.96 US Dollar |
| (e) | Aggregated information Aggregated volume Price
Aggregated Information Aggregated volume Price
|
Volume: 33,439 Price: $3.14
Volume: 52,764 Price: $3.14 |
| (f) | Date of the transaction | March 3, 2021 |
| (g) | Place of the transaction | USA |
| 1. | Details of PDMR / PDMR Associate | |
| (a) | Name | Jason Doornik |
| (b) | Position / status | Chief Accounting Officer and Controller |
| (c) | Initial notification / amendment | Initial Notification |
| 2. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| (a) | Description of the financial instrument | Award of restricted shares of common stock |
| (b) | Price(s) and volume(s) | Price: $3.14 Volume: 25,096 Total: $78,801.44 US Dollar |
| (c) | Aggregated information Aggregated volume Price |
Volume: 25,096 Price: $3.14
|
| (d) | Date of the transaction | March 3, 2021 |
| (e) | Place of the transaction | USA |
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