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.


Chang Ping Yuan vessel. Cosco Shipping names 88,000-cbm VLGC Chang Ping Yuan with dual-fuel LPG propulsion  

Owner claims 20% CO₂ reduction and Panama Canal compatibility across both lock systems.

World Fuel logo. World Fuel seeks senior marine fuels sales executive in London  

Position requires minimum of 10 years' experience in marine fuels, marine energy, or shipping.

Amogy and LOTTE Fine Chemical MoU signing. Amogy and LOTTE Fine Chemical sign MoU to advance ammonia solutions in South Korea  

Partnership structured around ammonia bunkering, hydrogen refuelling infrastructure, and distributed ammonia-to-power generation.

WinGD X72DF-ME engine render. WinGD wins order for dual-fuel alcohol engines for Polaris Shipping Newcastlemax fleet  

Four-engine order giving shipowner methanol and ethanol fuel flexibility.

Trelleborg Marine and Infrastructure logo. Trelleborg and Simwave launch LNG transfer equipment training programme at Gastech 2026  

New e-learning programme aims to close crew competency gaps as LNG bunkering grows and alternative fuels enter service.

Toho Emerald vessel. K Line names dual-fuel LNG carrier Toho Emerald at Samsung Heavy Industries yard  

174,000-cbm vessel, built for a joint venture with Toho Gas, is due for delivery next month.

Fujin Sailor vessel. MOL names world’s first LNG carrier fitted with wind-assisted propulsion for Chevron charter  

Fujin Sailor is also the first vessel of any type to carry two Wind Challenger units.

Steve Esau, Sea-LNG. SEA-LNG urges EU to protect mass-balance pathway for liquefied biomethane  

Industry coalition warns regulatory missteps could undermine LBM's rapid growth in maritime.

Luxomar delivery ceremony. ESL Shipping completes Green Coaster fleet with delivery of twelfth vessel Luxomar  

Baltic dry bulk carrier has finalised a twelve-vessel plug-in hybrid coaster programme built in India.

Hybrid ro-ro vessel render. Compagnie Maritime Nantaise orders hybrid ro-ro vessel for European space cargo runs  

French shipping company commissions wind-assisted vessel with biofuel capability to serve growing European space industry.


↑  Back to Top