This is a legacy page. Please click here to view the latest version.
Wed 30 May 2018, 14:54 GMT

World Fuel Services directors boost shareholding by $158k


Eight board members receive restricted stock unit grant under the firm's 2016 Omnibus Plan.


Image credit: Pixabay
Eight members of World Fuel Services' (WFS) board of directors increased their shareholding in the firm on May 24.

Directors Ken Bakshi, Jorge Benitez, Stephen Gold, Richard Kassar, John Manley, J. Thomas Presby, Stephen Roddenberry were all issued with 7,434 shares as a restricted stock unit grant under WFS's 2016 Omnibus Plan, whilst Paul Stebbins received 6,954 shares.

Based on the company's current share price, the value of the 7,434 shares is more than $158,000, and Stebbins' shares are worth around $10,000 less.

The stock will vest on the earlier of: (i) the day prior to the next annual shareholder meeting or (ii) the one-year anniversary of the grant date.

A breakdown of the current share ownership of the aforementioned eight directors has been provided below together with a valuation based on the company's share price at the time of writing.

Director No. Shares Value ($)
Ken Bakshi 57,566 1,226,731
Jorge Benitez 24,101 513,592
Stephen Gold 10,166 216,637
Richard Kassar 53,376 1,137,443
John Manley 34,540 736,047
J Thomas Presby 45,275 964,810
Stephen Roddenberry 86,091 1,834,599
Paul Stebbins 252,367 5,377,941

According to data as per April 4, CEO Michael Kasbar - the other member of the nine-man board - owned 790,146 WFS shares, which would value his shareholding at more than $16.8m.

2016 Omnibus Plan

WFS's 2016 Omnibus Plan was approved on March 4, 2016, replacing the firm's 2006 version.

The plan is designed to enable the company to use different forms of compensation awards to attract new employees, executives and directors; to further the goal of retaining and motivating existing personnel and directors; and to align their interests with those of shareholders.

As Bunker Index previously reported, all nine directors were elected for one-year terms at the company's annual shareholder meeting on May 24.


Ardmore Shipping logo. Ardmore Shipping reports 14% fleet emissions reduction in 2025 sustainability report  

Ardmore Shipping’s annual sustainability report highlights emissions cuts, safety gains and governance rankings across its tanker fleet.

Peter Keller, SEA-LNG. SEA-LNG mid-year review points to continued growth across methane pathway as coalition marks tenth anniversary  

LNG orders, bunkering volumes and biomethane production all rise as SEA-LNG gains IMO consultative status.

Heinz vessel. Econowind receives DNV type approval for VentoFoil 3-Series wind propulsion wing  

DNV certification set to streamline integration of VentoFoils on classed vessels worldwide.

Wärtsilä ammonia engine Wärtsilä to supply ammonia engines and propulsion systems for two Navigator Amon gas carriers  

Mid-size LPG/liquid ammonia carriers will be equipped with Wärtsilä’s ammonia-fuelled auxiliary engines.

Phil Sharp and Toon Muhlheim. Genevos and Koedood Marine Group sign LOI to explore hydrogen fuel cell deployment  

Two companies to collaborate on the use of hydrogen fuel cell systems for inland and coastal maritime transport.

Samskip SeaShuttle vessel render. Samskip brings SeaShuttle project into European HyShip initiative to develop liquid hydrogen infrastructure  

Two hydrogen-powered container vessels will operate between Rotterdam and Oslo from 2027.

Antwerpen vessel. Korea Register and HD Hyundai team up to advance ammonia-fuel shipping in South Korea  

Two organisations are cooperating on eco-friendliness verification for ammonia dual-fuel vessels.

Fabio Cococcetta, WinGD. Green ammonia could become the first commercially viable zero-emission marine fuel, WinGD study suggests  

Joint report by WinGD and Envision Energy sets out the economic case for green ammonia.

Rasul Shirinov, Oilmar. Oilmar appoints junior marine fuels trader at Dubai trading desk  

UAE-headquartered bunker firm hires Rasul Shirinov, with a background in the agricultural sector.

Antonia Maersk vessel. Maersk bunkers large dual-fuel vessel with 100% ethanol in Barcelona  

Ocean carrier scales up ethanol bunkering in bid to broaden its low-emission fuel strategy.


↑  Back to Top