Gulf Keystone Petroleum Limited (GKP)
Director / PDMR Shareholdings and issue of awards under the Deferred Bonus Plan ('DBP')
01-Apr-2026 / 16:40 GMT/BST
The issuer is solely responsible for the content of this announcement.
1 April 2026
Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP)
(“Gulf Keystone”, “GKP”, “the Group” or “the Company”)
Director / PDMR Shareholdings and issue of awards under the Deferred Bonus Plan ("DBP")
Gulf Keystone announces the following transactions by persons discharging managerial responsibilities ("PDMR").
CEO and CFO transactions
Long Term Incentive Plan (“LTIP”) – Exercise of vested awards
Jon Harris, Chief Executive Officer (“CEO”), and Gabriel Papineau-Legris, Chief Financial Officer (“CFO”), exercised their vested nil-cost share options granted to them in 2023 under the 2014 LTIP. Upon exercise, a proportion of their vested awards was sold to pay the tax liability arising upon exercise, while the remainder was retained.
| Name | Position | Share Option Scheme | Vested awards exercised | Shares sold for tax | Shares retained | Average price per share of sale (£) | Date of sale | | Jon Harris | CEO | 2014 LTIP | 264,428* | 124,718 | 139,710 | 2.09447 | 31 March 2026 | | Gabriel Papineau-Legris | CFO | 2014 LTIP | 72,701 | 34,290 | 38,411 | 2.085 | 30 March 2026 |
*On exercise, Jon Harris is entitled to an amount in shares equivalent to the dividends paid to shareholders during the vesting period on the vested shares (“the Dividend Equivalent”). This amounts to 32,057 common shares and is included in the total vested awards of 264,428.
Deferred Bonus Plan (“DBP”) – Vesting of awards
On 24 March 2023, Jon Harris was awarded 67,737 awards under the DBP, representing 30% of his 2023 bonus award. Under the rules of the DBP, the awards vested on 24 March 2026.
In addition, Jon Harris is entitled to an amount in shares equivalent to the dividends paid to shareholders during the vesting period on the vested shares (“the Dividend Equivalent”). This amounts to 9,802 common shares and is included in the total vested awards of 77,539.
Upon exercise, a proportion of the vested awards was sold to pay the tax liability arising upon exercise, while the remainder was retained.
| Name | Position | Share Option Scheme | Vested awards | Shares sold for tax | Shares retained | Average price per share of sale (£) | Date of sale | | Jon Harris | CEO | DBP | 77,539 | 36,572 | 40,967 | 2.1176 | 31 March 2026 |
Following the transactions, Jon Harris owns 532,401 common shares in the Company representing 0.24% of the issued share capital (“ISC”), while Mr Papineau-Legris owns 519,334 common shares in the Company representing 0.24% of the ISC.
Deferred Bonus Plan (“DBP”) – Issue of awards
The following awards were made on 26 March 2026 under the DBP. The vesting date is 26 March 2029, being the third anniversary from the annual bonus payroll date.
| Name | Position | Number of awards | | Jon Harris | CEO | 87,180 | | Gabriel Papineau-Legris | CFO | 53,828 |
Other PDMR transactions
Other PDMRs have also carried out transactions in connection with the vesting of the nil-cost share options granted to them in 2023 under the 2014 Long Term Incentive Plan ("LTIP").
Alasdair Robinson, Chief Legal Officer, exercised 56,947 vested awards and sold all shares at a price of 208.5p per common share. Following the transaction, Alasdair Robinson owns 143,267 common shares in the Company, representing 0.07% of the issued share capital.
John Hulme, Chief Operating Officer, exercised 87,557 vested awards and sold all shares at a volume weighted average price of 209.1941p per common share. Following the transactions, John Hulme owns 48,161 common shares in the Company, representing 0.02% of the issued share capital.
Clare Kinahan, Chief HR Officer, exercised 57,249 vested awards and sold all shares at a price of 205p per common share. Clare Kinahan also sold 7,597 shares at a volume weighted average price of 205p per common share. Following the transactions, Clare Kinahan no longer owns shares in the Company.
Market purchases were made through the Company’s Employee Benefit Trust to satisfy the vesting of all LTIP and DBP awards, with no new shares issued. The total number of voting rights in the Company remains 217,543,373.
Enquiries:
| Gulf Keystone: | +44 (0) 20 7514 1400 | Aaron Clark, Head of Investor Relations
& Corporate Communications | aclark@gulfkeystone.com | | FTI Consulting | +44 (0) 20 3727 1000 | Ben Brewerton
Nick Hennis | GKP@fticonsulting.com |
or visit:www.gulfkeystone.com
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com
This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | | a) | Name | Jon Harris | | 2 | Reason for the notification | | a) | Position/status | Chief Executive Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of$1.00each inGulf Keystone Petroleum Limited
ISIN:BMG4209G2077 | | b) | Nature of the transaction | Exercise of 264,428 nil-cost options pursuant to 2014 LTIP (2023 award)
Sale of 124,718 sharesto cover tax liability | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | 0p | 264,428 | | 209.4474p | 124,718 |
| | d) | Aggregated information
| - | Aggregated volume | | - | Price | | - | Total |
| | Price(s) | Volume(s) | Total | | 0p | 264,428 | £0 | | 209.4474p | 124,718 | £261,218.61 |
| | e) | Date of the transaction | 31 March 2026 | | f) | Place of the transaction | London Stock Exchange |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | | a) | Name | Jon Harris | | 2 | Reason for the notification | | a) | Position/status | Chief Executive Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of$1.00each inGulf Keystone Petroleum Limited
ISIN:BMG4209G2077 | | b) | Nature of the transaction | Vesting of 77,539 awards under the Deferred Bonus Plan
Sale of 36,572 sharesto cover tax liability | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | 0p | 77,539 | | 211.7552p | 36,572 |
| | d) | Aggregated information
| - | Aggregated volume | | - | Price | | - | Total |
| | Price(s) | Volume(s) | Total | | 0p | 77,539 | £0 | | 211.7552p | 36,572 | £77,443.11 |
| | e) | Date of the transaction | 31 March 2026 | | f) | Place of the transaction | London Stock Exchange |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | | a) | Name | Gabriel Papineau-Legris | | 2 | Reason for the notification | | a) | Position/status | Chief Financial Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of$1.00each inGulf Keystone Petroleum Limited
ISIN:BMG4209G2077 | | b) | Nature of the transaction | Exercise of 72,701 nil-cost options pursuant to 2014 LTIP (2023 award)
Sale of 34,290 sharesto cover tax liability | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | 0p | 72,701 | | 208.5p | 34,290 |
| | d) | Aggregated information
| - | Aggregated volume | | - | Price | | - | Total |
| | Price(s) | Volume(s) | Total | | 0p | 72,701 | £0 | | 208.5p | 34,290 | £71,494.65 |
| | e) | Date of the transaction | 30 March 2026 | | f) | Place of the transaction | London Stock Exchange |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | | a) | Name | Jon Harris | | 2 | Reason for the notification | | a) | Position/status | Chief Executive Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of $1.00 each in Gulf Keystone Petroleum Limited
ISIN: BMG4209G2077 | | b) | Nature of the transaction | Grant of nil cost award under the Deferred Bonus Plan | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | Nil | 87,180 |
| | d) | Aggregated information
| Single transaction as in 4c) above.
Nil consideration | | e) | Date of the transaction | 26 March 2026 | | f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | | a) | Name | Gabriel Papineau-Legris | | 2 | Reason for the notification | | a) | Position/status | Chief Financial Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of $1.00 each in Gulf Keystone Petroleum Limited
ISIN: BMG4209G2077 | | b) | Nature of the transaction | Grant of nil cost award under the Deferred Bonus Plan | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | Nil | 53,828 |
| | d) | Aggregated information
| Single transaction as in 4c) above.
Nil consideration | | e) | Date of the transaction | 26 March 2026 | | f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | | a) | Name | Alasdair Robinson | | 2 | Reason for the notification | | a) | Position/status | Chief Legal Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of$1.00each inGulf Keystone Petroleum Limited
ISIN:BMG4209G2077 | | b) | Nature of the transaction | Exercise of 56,947 nil-cost options pursuant to 2014 LTIP (2023 award)
Sale of 56,947 shares | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | 0p | 56,947 | | 208.5p | 56,947 |
| | d) | Aggregated information
| - | Aggregated volume | | - | Price | | - | Total |
| | Price(s) | Volume(s) | Total | | 0p | 56,947 | £0 | | 208.5p | 56,947 | £118,734.50 |
| | e) | Date of the transaction | 30 March 2026 | | f) | Place of the transaction | London Stock Exchange |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | | a) | Name | John Hulme | | 2 | Reason for the notification | | a) | Position/status | Chief Operating Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of$1.00each inGulf Keystone Petroleum Limited
ISIN:BMG4209G2077 | | b) | Nature of the transaction | Exercise of 87,557 nil-cost options pursuant to 2014 LTIP (2023 award)
Sale of 87,557 shares | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | 0p | 87,557 | | 209.2486p | 63,236 | | 209.0523p | 24,321 |
| | d) | Aggregated information
| - | Aggregated volume | | - | Price | | - | Total |
| | Price(s) | Volume(s) | Total | | 0p | 87,557 | £0 | | 209.1941p | 87,557 | £183,164.05 |
| | e) | Date of the transaction | 31 March 2026 | | f) | Place of the transaction | London Stock Exchange |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | | a) | Name | Clare Kinahan | | 2 | Reason for the notification | | a) | Position/status | Chief HR Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of$1.00each inGulf Keystone Petroleum Limited
ISIN:BMG4209G2077 | | b) | Nature of the transaction | Exercise of 57,249 nil-cost options pursuant to 2014 LTIP (2023 award)
Sale of 57,249 shares | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | 0p | 57,249 | | 205p | 57,249 |
| | d) | Aggregated information
| - | Aggregated volume | | - | Price | | - | Total |
| | Price(s) | Volume(s) | Total | | 0p | 57,249 | £0 | | 205p | 57,249 | £117,360.45 |
| | e) | Date of the transaction | 31 March 2026 | | f) | Place of the transaction | London Stock Exchange |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | | a) | Name | Clare Kinahan | | 2 | Reason for the notification | | a) | Position/status | Chief HR Officer | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Gulf Keystone Petroleum Limited | | b) | LEI | 213800QTAQOSSTNTPO15 | | 4 | 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, type of instrument
Identification code | Common shares of$1.00each inGulf Keystone Petroleum Limited
ISIN:BMG4209G2077 | | b) | Nature of the transaction | Disposal | | c) | Price(s) and volume(s) | | Price(s) | Volume(s) | | 205p | 4,952 | | 205p | 2,645 |
| | d) | Aggregated information
| - | Aggregated volume | | - | Price | | - | Total |
| | Price(s) | Volume(s) | Total | | 205p | 7,597 | £15,573.85 |
| | e) | Date of the transaction | 31 March 2026 | | f) | Place of the transaction | London Stock Exchange |
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The issuer is solely responsible for the content of this announcement.
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