27th Aug 2025 07:20
GRANT OF LONG-TERM SHARE AWARDS
CALGARY, ALBERTA (August 27, 2025) - Touchstone Exploration Inc. ("Touchstone" or the "Company") reports that the Company granted its non-executive directors, executive officers and key employees share awards on August 25, 2025 as part of its long-term compensation program.
The Company issued 3,537,139 restricted share units ("RSUs") and 3,423,974 performance share units ("PSUs") under its shareholder approved omnibus incentive compensation plan to its executive officers and key employees.
The RSUs vest in equal one-third tranches on each of the first three anniversaries of the grant date. PSU awards cliff vest on the third anniversary of the grant date and are subject to a performance multiplier ranging from zero times to 1.75 times based on achievement of predefined corporate performance targets set by the Board of Directors ("Board") over the vesting period. RSU awards are fixed while the number of PSUs earned is variable. Each RSU and PSU award may, at the Board's discretion, be settled in common shares, cash, or a combination thereof. If paid in cash, the plan participant will receive a cash payment based on the fair value of the underlying common shares on the applicable vesting date.
In accordance with its long-term director compensation plan, the Company issued 1,476,424 deferred share units ("DSUs") to its non-executive directors. DSUs vest immediately upon grant but may only be redeemed after the director ceases to be a member of the Board. DSUs are settled in cash based on the market price of the Company's common shares at the time of redemption.
The annual grants were awarded to the following recipients:
Recipient | Number of RSUs |
Paul R. Baay, Director, President and Chief Executive Officer | 660,128 |
Scott Budau, Chief Financial Officer | 462,090 |
Brian Hollingshead, EVP, Engineering and Business Development | 386,647 |
James Shipka, EVP, Asset Development and HSE | 418,710 |
Employees | 1,609,564 |
Total | 3,537,139 |
Recipient | Number of PSUs |
Paul R. Baay, Director, President and Chief Executive Officer | 660,128 |
Scott Budau, Chief Financial Officer | 462,090 |
Brian Hollingshead, EVP, Engineering and Business Development | 386,647 |
James Shipka, EVP, Asset Development and HSE | 418,710 |
Employees | 1,496,399 |
Total | 3,423,974 |
Recipient | Number of DSUs |
Priya Marajh, Non-Executive Director | 278,008 |
Kenneth R. McKinnon, Non-Executive Director | 320,634 |
Peter Nicol, Non-Executive Director | 299,887 |
Beverley Smith, Non-Executive Director | 278,008 |
Stanley T. Smith, Non-Executive Director | 299,887 |
Total | 1,476,424 |
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail on the above transactions.
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP". For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:
Touchstone Exploration Inc.
Mr. Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4405
Mr. Scott Budau, Chief Financial Officer
Shore Capital (Nominated Advisor and Joint Broker)
Daniel Bush / Toby Gibbs / Tom Knibbs Tel: +44 (0) 207 408 4090
Canaccord Genuity (Joint Broker)
Adam James / Charlie Hammond Tel: +44 (0) 207 523 8000
FTI Consulting (Financial PR)
Nick Hennis / Ben Brewerton Tel: +44 (0) 203 727 1000
Email: [email protected]
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulation.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||||||||||||||||||||||||||||||||
a)
| Name
| 1. Paul R. Baay 2. Scott Budau 3. Brian Hollingshead 4. James Shipka 5. Paul R. Baay 6. Scott Budau 7. Brian Hollingshead 8. James Shipka 9. Priya Marajh 10. Kenneth R. McKinnon 11. Peter Nicol 12. Beverley Smith 13. Stanley T. Smith | ||||||||||||||||||||||||||||||||||||||||||
2. | Reason for the notification | |||||||||||||||||||||||||||||||||||||||||||
a) | Position/status | 1. Director, President and Chief Executive Officer 2. Chief Financial Officer 3. EVP, Engineering and Business Development 4. EVP, Asset Development and HSE 5. Director, President and Chief Executive Officer 6. Chief Financial Officer 7. EVP, Engineering and Business Development 8. EVP, Asset Development and HSE 9. Non-Executive Director 10. Non-Executive Director 11. Non-Executive Director 12. Non-Executive Director 13. Non-Executive Director | ||||||||||||||||||||||||||||||||||||||||||
b) | Initial notification /Amendment | Initial notification | ||||||||||||||||||||||||||||||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||||||||||||||||||||||||
a) | Name | Touchstone Exploration Inc. | ||||||||||||||||||||||||||||||||||||||||||
b) | LEI | 2138008URBSUC1J24J73 | ||||||||||||||||||||||||||||||||||||||||||
4.
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||||||||||||||||||||||||||||||||||||||||
a) | Description of the financial instrument, type of instrument
Identification code | 1. Restricted share units over common shares of no par value in the capital of Touchstone Exploration Inc. 2. Restricted share units over common shares of no par value in the capital of Touchstone Exploration Inc. 3. Restricted share units over common shares of no par value in the capital of Touchstone Exploration Inc. 4. Restricted share units over common shares of no par value in the capital of Touchstone Exploration Inc. 5. Performance share units over common shares of no par value in the capital of Touchstone Exploration Inc. 6. Performance share units over common shares of no par value in the capital of Touchstone Exploration Inc. 7. Performance share units over common shares of no par value in the capital of Touchstone Exploration Inc. 8. Performance share units over common shares of no par value in the capital of Touchstone Exploration Inc. 9. Deferred share units over common shares of no par value in the capital of Touchstone Exploration Inc. 10. Deferred share units over common shares of no par value in the capital of Touchstone Exploration Inc. 11. Deferred share units over common shares of no par value in the capital of Touchstone Exploration Inc. 12. Deferred share units over common shares of no par value in the capital of Touchstone Exploration Inc. 13. Deferred share units over common shares of no par value in the capital of Touchstone Exploration Inc.
CA89156L1085 | ||||||||||||||||||||||||||||||||||||||||||
b) | Nature of the transactions | Grant of share units to executive directors/officers | ||||||||||||||||||||||||||||||||||||||||||
c)
| Prices and volumes |
| ||||||||||||||||||||||||||||||||||||||||||
d) | Aggregated information - Aggregated volume
- Price | Aggregate volumes 1. 660,128 2. 462,090 3. 386,647 4. 418,710 5. 660,128 6. 462,090 7. 386,647 8. 418,710 9. 278,008 10. 320,634 11. 299,887 12. 278,008 13. 299,887
Aggregate prices 1. Nil 2. Nil 3. Nil 4. Nil 5. Nil 6. Nil 7. Nil 8. Nil 9. Nil 10. Nil 11. Nil 12. Nil 13. Nil | ||||||||||||||||||||||||||||||||||||||||||
e) | Date of the transaction | August 25, 2025 | ||||||||||||||||||||||||||||||||||||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||||||||||||||||||||||||||||||||||||
Related Shares:
Touchstone Exploration