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.


Factory Acceptance Testing (FAT) for X52DF-A-1.0 engine. WinGD completes factory testing of ammonia-fuelled engine for LPG carrier  

X52DF-A-1.0 engine tested in China ahead of installation on first of four vessels under construction.

Drift Energy energy-harvesting ship render. RINA awards first approval in principle for energy-harvesting ship  

Drift Energy receives certification for vessel design that generates clean energy at sea.

MSC World Europa vessel. MSC Cruises achieves flag state recognition for verified methane emissions data  

Bureau Veritas certifies actual methane slip values for two LNG-fuelled cruise ships.

IBIA and EENMA MoU signing. IBIA and Greek shortsea shipowners sign cooperation agreement  

The International Bunker Industry Association partners with EENMA to support the marine fuels sector.

Hapag-Lloyd and Scan Global Logistics logos. Scan Global Logistics and Hapag-Lloyd expand biofuel partnership to cut shipping emissions  

Collaboration claims to avoid 8,500 tonnes of CO₂e emissions through second-generation biofuels.

Lapis Ace ship-to-ship LNG bunkering operation. MOL signs first annual LNG bunkering contract for car carriers in Vancouver  

Japanese shipping company secures year-round fuel supply with Seaspan Energy at Canadian port.

Gasum's LNG bunkering vessel Coralius. Gasum’s maritime bio-LNG sales surge from 0.8% to 12.3% in 2025  

Nordic energy company attributes growth to FuelEU Maritime regulation introduced in 2025.

Port Authority of Valencia board meeting. Valenciaport gives LNG bunkering go-ahead to Shell and Axpo Iberia  

Port authority approves two LNG bunkering authorisations as part of its decarbonisation strategy.

Northern Purpose naming ceremony. BSM enters LCO₂ carrier segment with management of dual-fuel Northern Purpose  

Bernhard Schulte Shipmanagement takes over first liquefied carbon dioxide carrier for Northern Lights project.

Anna Cosulich vessel. Fratelli Cosulich takes delivery of methanol-ready bunker tanker Anna Cosulich  

Vessel built in China will head to Singapore to support group's bunkering operations.


↑  Back to Top