Meldgaard Jacob Balslev 4
4 · TORM plc · Filed Apr 10, 2026
Research Summary
AI-generated summary of this filing
TORM (TRMD) CEO Jacob Meldgaard Receives RSU Award
What Happened
Meldgaard Jacob Balslev, CEO of TORM plc (TRMD), was granted 225,200 restricted stock units (RSUs) on April 10, 2026. The grant is a derivative award (no cash purchase by the insider) reported at $0.00; the issuer used a reference price of DKK 167.70 for internal valuation and potential withholding calculations. No Class A shares were issued at the time of the grant.
Key Details
- Transaction type/code: Grant/Award (A), derivative RSUs; reported acquisition of 225,200 RSUs on 2026-04-10.
- Reported price: $0.00 (no exercise/purchase price payable by the insider); reference price for valuation was DKK 167.70.
- Vesting/settlement: RSUs vest in three equal annual installments on Jan 1, 2027; Jan 1, 2028; and Jan 1, 2029. Each vested RSU settles into one Class A common share.
- Shares issued at grant: None. The award is a contingent right to receive shares upon vesting.
- Dividend/tax note: Reference price was adjusted for the issuer's Q4 2025 dividend and will adjust for subsequent dividends; the reference price is used for internal valuation and withholding determinations.
- Filing timeliness: Report filed on 2026-04-10 for a grant dated 2026-04-10 — no late filing indicated in the provided data.
- Shares owned after transaction: Not reported in the provided filing excerpt.
Context
This was an equity compensation grant (RSUs), not an open-market purchase or sale. RSU grants compensate and retain executives and are contingent on continued service through vesting dates; they do not necessarily signal immediate bullish or bearish insider trading intent. Upon vesting each RSU will convert 1-for-1 into a Class A share and may be subject to withholding.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2]2026-04-10+225,200→ 1,265,600 total→ Class A Common Shares (225,200 underlying)
Footnotes (2)
- [F1]The Issuer granted the Reporting Person restricted stock units ("RSUs") with an exercise price of DKK 167.70 at the time of allocation. The amount referenced herein reflects the grant date reference price used by the Issuer solely for internal valuation purposes and for determining withholding obligations, if any. The RSUs do not have an exercise or purchase price payable by the Reporting Person. The reference price was calculated as the average of the closing sale prices of the Issuer's Class A common shares on the Nasdaq Copenhagen Stock Exchange during the 90 calendar day period preceding the release of the Issuer's 2025 Annual Report on February 26, 2026, adjusted to reflect the dividend declared for the fourth quarter of 2025. The reference price will adjust for subsequent dividends in accordance with the terms of the RSU award.
- [F2]The RSUs reported herein were granted on April 10, 2026 and represent a contingent right to receive shares of the Issuer's Class A common shares upon vesting. The RSUs vest in three equal annual installments on January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through the applicable vesting date. Each vested RSU will be settled in one Class A common share of the Issuer. No shares of Class?A common stock were issued upon the grant of the RSUs.