Scorpio Tankers Boosts Equity Incentive Plan by 1.46M Shares
Ticker: STNG · Form: 6-K · Filed: Feb 16, 2024 · CIK: 1483934
| Field | Detail |
|---|---|
| Company | Scorpio Tankers Inc. (STNG) |
| Form Type | 6-K |
| Filed Date | Feb 16, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-plan, stock-compensation, corporate-governance
TL;DR
**Scorpio Tankers just upped its equity incentive plan by 1.46 million shares, signaling more stock-based compensation is coming.**
AI Summary
On February 13, 2024, Scorpio Tankers Inc.'s Board of Directors increased the number of shares reserved for issuance under its Amended and Restated 2013 Equity Incentive Plan by 1,463,294 shares. This brings the total shares available for issuance under the Plan to 1,478,807 shares of Common Stock, par value $0.01 per share. This action was reported in a 6-K filing on February 16, 2024.
Why It Matters
This increase in available shares for the equity incentive plan allows Scorpio Tankers to offer more stock-based compensation, potentially attracting and retaining key talent, but also diluting existing shareholders.
Risk Assessment
Risk Level: medium — Increasing shares for an equity incentive plan can lead to dilution for existing shareholders, which is a moderate risk.
Key Numbers
- 1,463,294 — Shares Added to Plan (Increase in shares reserved for issuance under the equity incentive plan.)
- 1,478,807 — Total Shares Available (Aggregate number of shares available for issuance under the Amended and Restated 2013 Equity Incentive Plan.)
- $0.01 — Par Value per Share (The par value of the Common Stock.)
Key Players & Entities
- Scorpio Tankers Inc. (company) — registrant
- Board of Directors (company) — decision-making body
- Amended and Restated 2013 Equity Incentive Plan (company) — plan for share issuance
- 1,463,294 (dollar_amount) — increase in shares reserved
- 1,478,807 (dollar_amount) — aggregate shares available
- $0.01 (dollar_amount) — par value per share
- February 13, 2024 (date) — date of board resolution
- February 2024 (date) — month of report
FAQ
What was the specific action taken by Scorpio Tankers Inc.'s Board of Directors on February 13, 2024?
On February 13, 2024, the Board of Directors of Scorpio Tankers Inc. resolved to increase the number of shares of Common Stock reserved for issuance under the Company's Amended and Restated 2013 Equity Incentive Plan by 1,463,294 shares.
What is the new aggregate number of shares available for issuance under the Amended and Restated 2013 Equity Incentive Plan?
The new aggregate number of shares available for issuance under the Plan is 1,478,807 shares of Common Stock.
What is the par value of the Common Stock mentioned in the filing?
The par value of the Common Stock is $0.01 per share.
When was this 6-K report filed with the SEC?
This 6-K report was filed as of February 16, 2024.
Under which SEC Act does Scorpio Tankers Inc. file this report?
Scorpio Tankers Inc. files this report under the Securities Exchange Act of 1934, specifically Rule 13A-16 or 15D-16.
Filing Stats: 256 words · 1 min read · ~1 pages · Grade level 11.2 · Accepted 2024-02-16 16:12:42
Key Financial Figures
- $0.01 — er of shares of Common Stock, par value $0.01 per share (the "Common Stock") of the C
Filing Documents
- d10984763_6-k.htm (6-K) — 11KB
- 0000919574-24-001574.txt ( ) — 12KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SCORPIO TANKERS INC. (registrant) Dated: February 16, 2024 By: /s/ Christopher Avella Christopher Avella Chief Financial Officer