VAALCO adopts new award agreements, grants performance and time-based equity to executives and directors

VAALCO ENERGY INC /DE/

Board adopted forms of Performance RSA, Time-based RSA, and RSU Award Agreements under the 2020 LTIP.
Performance RSA vesting tied to 30-day average stock price hurdles of 10%, 15%, and 20% above grant price.
Time-based RSA and RSUs vest in three equal annual tranches; all awards include a 365-day post-vesting holding period.
Executive officers received restricted shares under both Performance RSA and Time-based RSA; directors received restricted shares under director form.
Accelerated vesting upon Change in Control, death, disability, or qualified retirement at age 65 with 10+ years service.

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