VAALCO Energy amends exec agreements, awards restricted stock and options to CEO, CFO, COO, GC

VAALCO ENERGY INC /DE/

CEO Maxwell receives 141,156 restricted shares and 261,545 options; other execs receive proportionate grants.
Options exercise price $5.96, vest in three tranches with stock price hurdles of +15%, +32.25%, +52.5%.
Amendments remove fixed percentage of base salary for equity awards, making grants discretionary per Compensation Committee.
Compensation consultant found prior grants near bottom of bottom quartile; new grants target near top of bottom quartile.

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