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.


Andre M ammonia-fuelled gas carrier. China delivers first domestically built ammonia-fuelled gas carrier  

CCS-classed vessel becomes the world's second ammonia-fuelled gas carrier, testing rules for the IMO's zero-carbon shipping transition.

Nordion Energi liquefied biogas (LBG) facility render. Storage tank installed as Gothenburg's LBG bunkering plant advances towards 2027 completion  

Nordion Energi's liquefied biogas facility at the Port of Gothenburg takes a step forward with tank installation.

Maran Myron vessel. Maran Tankers takes delivery of dual-fuel Suezmax Maran Myron  

Vessel is sixth dual-fuel tanker in eight-vessel series built by New Times Shipbuilding.

Lake Victoria truck-to-ship (TTS) bunkering operation. EPS completes first truck-to-ship LNG bunkering operation in Davisville  

Fuel delivered to the pure car and truck carrier Lake Victoria whilst at berth.

Maritime and Port Authority of Singapore logo. MPA opens applications for LNG floating storage unit licences  

Singapore invites applications for up to two LNG floating storage unit licences to bolster bunkering supply resilience.

Rasmus Frimann Nielsen and Lars Zimmermann, Everllence. Everllence's small-bore GenSet orders surpass 2,000 in 2026  

Engine maker reports strong order intake across its small-bore portfolio, citing demand for reliable, fuel-flexible auxiliary power.

MT Tulip bunker tanker. Bunker One renews MT Tulip charter, plans mass flow meter upgrade in Mauritius  

Bunker One is keeping its bunker tanker in Mauritius while adding flow metering technology to improve delivery transparency.

COP31 panel discussion. Fund for Energy Efficiency Technologies becomes first to adopt revised Singapore-Asia Taxonomy  

FEET's adoption coincides with Lloyd's Register's independent review of GCMD's methodology for quantifying fuel savings from wind-assisted propulsion systems.

Arsenio Dominguez, IMO Secretary-General. IMO chief urges states to enforce safety rules in Strait of Hormuz amid rising attacks  

Arsenio Dominguez says more than 130 attacks on commercial vessels have been verified since February, with at least 25 seafarers killed.

OOCL Wisdom ship-to-ship (STS) bunkering operation at Xiamen Port. Xiamen Port launches 'green methanol bunkering' with OOCL Wisdom  

Boxship received 1,005 tonnes of methanol, corresponding to a reduction of more than 1,600 tonnes in carbon emissions, says COSCO Shipping.


↑  Back to Top