BW Group-controlled Hafnia has rewarded its top two managers again after record results.
The Singapore product tanker company’s chief executive, Mikael Skov, has been granted options for 595,374 shares, while chief financial officer Perry van Echtelt has been given 129,645 options.
The total of around 725,000 options would be worth NOK 43.35m ($4.18m) now if converted into shares at the current price of NOK 59.80 in Oslo.
This is down 1% in Thursday trading.
The awards come days after the two executives sold newly acquired stock for $13m.
Skov and van Echtelt offloaded a total of 2.2m shares between 1 and 3 March.
A big chunk of these was acquired by exercising performance-related options at the same time.
Skov sold 1.37m shares at an average price of NOK 61.88 each — all the options he pocketed the week before.
This sale was worth NOK 85m.
At a strike price of NOK 20.52, this put Skov $5.44m in the money.
He retained 920,000 shares in the shipowner.
Van Echtelt sold 296,000 shares and had 40,300 remaining.
Most profitable year
Strong product carrier markets meant Hafnia’s expanded fleet enjoyed its most profitable year ever in booming markets.
Fourth-quarter profit was $263.8m, against a loss of $7.9m in the same period of 2021.
This brought the full-year figure to a record $751.6m.
Of this, $402m has gone to shareholders as dividends — a payout ratio of 53.5%.
Revenue jumped to $575m in the final three months, from $244.3m a year earlier.
Hafnia has 115 owned ships and 13 chartered-in.
