The Board of Seadrill Limited has approved a share incentive program allocating 2,300,000 options to senior management in the Company to acquire shares in Seadrill Limited. The share options were granted on January 7, 2008 and have a strike price of NOK 132.1180 per share. The purpose of the share ownership plan is to promote long-term employment and the term of the options are therefore six years. The options generally vest 1/3 after 18, 30 and 42 months respectively. 330,000 of these options are granted to primary insiders (attached details).
The following Primary Insiders have received share options:
Kate Blankenship 20,000
Jan Tore Strømme 50,000
Kjell E Jacobsen 100,000
Alf C Thorkildsen 100,000
Trond Brandsrud 60,000
New total holdings for the same Primary Insiders are:
Shares Share options
Kate Blankenship 8,000 50,000
Jan Tore Strømme 0 50,000
Kjell E Jacobsen 0 450,000
Alf C Thorkildsen 0 375,000
Trond Brandsrud 0 210,000
Seadrill Limited
January 8, 2008
Hamilton, Bermuda