REG-Gulf Keystone Petroleum Limited Director / PDMR Shareholdings and issue of awards under the Deferred Bonus Plan ('DBP')
Wed 16:45
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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.
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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.
Share Vested Shares Average Date
Name Position Option awards sold Shares price per of
Scheme exercised for tax retained share of sale
sale (£)
2014 31
Jon Harris CEO LTIP 264,428* 124,718 139,710 2.09447 March
2026
Gabriel 2014 30
Papineau-Legris CFO LTIP 72,701 34,290 38,411 2.085 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.
Share Vested Shares Shares Average price per Date
Name Position Option awards sold for retained share of sale (£) of
Scheme tax sale
Jon 31
Harris CEO DBP 77,539 36,572 40,967 2.1176 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 1 aclark@gulfkeystone.com
FTI Consulting +44 (0) 20 3727 1000
Ben Brewerton
2 GKP@fticonsulting.com
Nick Hennis
or visit: 3 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
Description of the financial Common shares of $1.00 each in Gulf
a) instrument, type of instrument Keystone Petroleum Limited
Identification code ISIN: BMG4209G2077
1. Exercise of 264,428 nil-cost options
pursuant to 2014 LTIP (2023 award)
b) Nature of the transaction
2. Sale of 124,718 shares to cover tax
liability
Price(s) Volume(s)
0p 264,428
c) Price(s) and volume(s) 209.4474p 124,718
Aggregated information Price(s) Volume(s) Total
0p 264,428 £0
- Aggregated volume 209.4474p 124,718 £261,218.61
d) - Price
- Total
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
Description of the financial Common shares of $1.00 each in Gulf
a) instrument, type of instrument Keystone Petroleum Limited
Identification code ISIN: BMG4209G2077
1. Vesting of 77,539 awards under the
Deferred Bonus Plan
b) Nature of the transaction
2. Sale of 36,572 shares to cover tax
liability
Price(s) Volume(s)
0p 77,539
c) Price(s) and volume(s) 211.7552p 36,572
Aggregated information Price(s) Volume(s) Total
0p 77,539 £0
- Aggregated volume 211.7552p 36,572 £77,443.11
d) - Price
- Total
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
Description of the financial Common shares of $1.00 each in Gulf
a) instrument, type of instrument Keystone Petroleum Limited
Identification code ISIN: BMG4209G2077
1. Exercise of 72,701 nil-cost options
pursuant to 2014 LTIP (2023 award)
b) Nature of the transaction
2. Sale of 34,290 shares to cover tax
liability
Price(s) Volume(s)
0p 72,701
c) Price(s) and volume(s) 208.5p 34,290
Aggregated information Price(s) Volume(s) Total
0p 72,701 £0
- Aggregated volume 208.5p 34,290 £71,494.65
d) - Price
- Total
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
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Description of the financial Common shares of $1.00 each in Gulf
instrument, type of instrument Keystone Petroleum Limited
a)
Identification code ISIN: BMG4209G2077
b) Nature of the transaction Grant of nil cost award under the
Deferred Bonus Plan
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 87,180
Aggregated information
d) - Aggregated volume Single transaction as in 4c) above.
- Price
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
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Description of the financial Common shares of $1.00 each in Gulf
instrument, type of instrument Keystone Petroleum Limited
a)
Identification code ISIN: BMG4209G2077
b) Nature of the transaction Grant of nil cost award under the
Deferred Bonus Plan
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 53,828
Aggregated information
d) - Aggregated volume Single transaction as in 4c) above.
- Price
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
Description of the financial Common shares of $1.00 each in Gulf
a) instrument, type of instrument Keystone Petroleum Limited
Identification code ISIN: BMG4209G2077
1. Exercise of 56,947 nil-cost options
pursuant to 2014 LTIP (2023 award)
b) Nature of the transaction
2. Sale of 56,947 shares
Price(s) Volume(s)
0p 56,947
c) Price(s) and volume(s) 208.5p 56,947
Aggregated information Price(s) Volume(s) Total
0p 56,947 £0
- Aggregated volume 208.5p 56,947 £118,734.50
d) - Price
- Total
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
Description of the financial Common shares of $1.00 each in Gulf
a) instrument, type of instrument Keystone Petroleum Limited
Identification code ISIN: BMG4209G2077
1. Exercise of 87,557 nil-cost options
pursuant to 2014 LTIP (2023 award)
b) Nature of the transaction
2. Sale of 87,557 shares
Price(s) Volume(s)
0p 87,557
c) Price(s) and volume(s) 209.2486p 63,236
209.0523p 24,321
Aggregated information Price(s) Volume(s) Total
0p 87,557 £0
- Aggregated volume 209.1941p 87,557 £183,164.05
d) - Price
- Total
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
Description of the financial Common shares of $1.00 each in Gulf
a) instrument, type of instrument Keystone Petroleum Limited
Identification code ISIN: BMG4209G2077
1. Exercise of 57,249 nil-cost options
pursuant to 2014 LTIP (2023 award)
b) Nature of the transaction
2. Sale of 57,249 shares
Price(s) Volume(s)
0p 57,249
c) Price(s) and volume(s) 205p 57,249
Aggregated information Price(s) Volume(s) Total
0p 57,249 £0
- Aggregated volume 205p 57,249 £117,360.45
d) - Price
- Total
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
Description of the financial Common shares of $1.00 each in Gulf
a) instrument, type of instrument Keystone Petroleum Limited
Identification code ISIN: BMG4209G2077
b) Nature of the transaction Disposal
Price(s) Volume(s)
205p 4,952
c) Price(s) and volume(s) 205p 2,645
Aggregated information
Price(s) Volume(s) Total
- Aggregated volume 205p 7,597 £15,573.85
d) - Price
- Total
e) Date of the transaction 31 March 2026
f) Place of the transaction London Stock Exchange
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Dissemination of a Regulatory Announcement, transmitted by 4 EQS Group.
The issuer is solely responsible for the content of this announcement.
View original content: 5 EQS News
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ISIN: BMG4209G2077
Category Code: DSH
TIDM: GKP
LEI Code: 213800QTAQOSSTNTPO15
Sequence No.: 422880
EQS News ID: 2302554
End of Announcement EQS News Service
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References
Visible links
1. mailto:aclark@gulfkeystone.com
2. mailto:GKP@fticonsulting.com
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