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.


Mount Asahi vessel. CSSC delivers LNG dual-fuel bulker to Eastern Pacific nearly four months early  

210,000-tonne Mount Asahi handed over ahead of contract schedule.

Mount Vision vessel. New Times Shipbuilding delivers three LNG dual-fuel tankers in four days  

Chinese yard hands over one VLCC and two Aframax-size crude tankers within a single week.

Mercedes Pinto vessel TTS LNG bunkering. Baleària ferry completes LNG bunkering at regular berth in Las Palmas for first time  

LNG refuelling of Mercedes Pinto set to take place weekly without changing berth.

Baltic Timber vessel. Baltic Shipping Company takes delivery of wind-assisted hybrid coaster  

3,550-dwt vessel is fitted with Econowind VentoFoils and a battery package.

Pakistan flag. Vitol Bunkers launches first commercial bunkering service at Gwadar Port  

Company begins offering HSFO, VLSFO and LSMGO at the Pakistani deepwater port.

Port of Singapore. Trailing 3-month bunker sales fall to lowest since April 2025 in Singapore  

Bunker volume of 13.569m tonnes sold between April and June was worst result in 14 months.

Glander International Bunkering logo. Glander International Bunkering reports $23.4m pre-tax earnings amid volatile shipping markets  

Bunker trading company says new fuels volumes doubled over the past year, driven by client demand.

Aerial view of tanker vessel at sea. ISO-compliant fuels increasingly causing operational problems, Lloyd’s Register warns  

Latest FOBAS report finds fuel quality risk shifting beyond off-specification fuels.

Bioethanol bunkering at the Port of Santos. Bunker One completes Latin America’s first bioethanol bunkering of a deep-sea container vessel  

500,000-litre delivery at Santos marks a first for bioethanol as a marine fuel.

Maritime Technologies Forum (MTF) logo. MTF issues safety management guidelines for methanol-fuelled ships  

New MTF report offers recommendations for developing and strengthening safety management systems for methanol as a fuel.


↑  Back to Top