Flex LNG (FLNG) CEO Foss Halfdan Exercises Synthetic Options

What Happened

• Foss Halfdan, CEO of Flex LNG (FLNG), exercised 27,575 vested cash-settled synthetic options on August 20, 2026. The options were settled for cash rather than resulting in share issuance; the cash payout was about $323,455 (27,575 × ($32.48 closing NYSE price on Aug 19, 2026 − $20.75 strike), after scheme adjustments).

Key Details

• Transaction date: 2026-08-20; Form filed: 2026-08-21 (timely).
• Reported exercise quantity: 27,575 synthetic options (transaction code M = option exercise).
• Settlement price basis: NYSE close $32.48 on Aug 19, 2026; strike price $20.75; estimated cash settlement ≈ $323,455.
• No ordinary shares were issued upon exercise; therefore no immediate change to outstanding share ownership is reported.
• This exercise relates to the first tranche (27,575 options) granted 2025-06-24 and vested 2026-06-24 under the Issuer’s Synthetic Option Scheme (vesting is over three years in 1/3 annual tranches).
• Footnotes indicate adjustments (including for dividends) were applied in determining the cash settlement; securities are cash-settled synthetic options (not rights to acquire shares).

Context

• This was a cash-settled exercise of synthetic options (not a buy or sell of company stock). Cash settlement monetizes option gains without issuing shares, so it does not change share count.
• The filing appears timely (filed the next day); no 10b5-1 plan or tax-withholding share issuances are reported.