TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive program

Rhea-AI Summary

TORM plc (NASDAQ: TRMD A) increased share capital by 43,697 A-shares following exercise of Restricted Share Units on March 31, 2026. 10,634 shares were subscribed at DKK 131.80 and 33,063 at DKK 148.70. Post-issue share capital is USD 1,021,233.39 across 102,123,339 A-shares.

New shares are ordinary, carry dividend and voting rights from issuance, and are expected to list on Nasdaq Copenhagen as soon as possible.

Key Figures

New A-shares issued: 43,697 A-shares New capital nominal value: USD 436.97 Shares at DKK 131.80: 10,634 shares +5 more

8 metrics

New A-shares issued 43,697 A-shares Capital increase from RSU exercise

New capital nominal value USD 436.97 Nominal value of new A-shares issued

Shares at DKK 131.80 10,634 shares RSU shares subscribed for cash at DKK 131.80

Shares at DKK 148.70 33,063 shares RSU shares subscribed for cash at DKK 148.70

Post-increase share capital USD 1,021,233.39 Total share capital after RSU-driven increase

Total A-shares outstanding 102,123,339 A-shares Ordinary A-shares, nominal USD 0.01 each

Nominal value per share USD 0.01 Nominal value of each A-share

Voting rights per share 1 vote Each A-share carries one vote

Market Reality Check

Price: $27.38 Vol: Volume 668,075 is about 4...

low vol

$27.38 Last Close

Volume Volume 668,075 is about 44% of the 1,191,917 20-day average, indicating muted trading interest before this RSU update. low

Technical Price at $27.38 is trading above the $21.90 200-day MA, reflecting a sustained uptrend into this capital increase.

Peers on Argus

TRMD slipped -0.33% with below-average volume, while key peers INSW, GEL, STNG, ...

TRMD slipped -0.33% with below-average volume, while key peers INSW, GEL, STNG, CMBT, and EE were all down between about -1% to -2.5%, pointing to broader softness in tanker/midstream names rather than a stock-specific move tied to this small RSU issuance.

Historical Context

5 past events · Latest: Mar 24 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 24	RSU capital increase	Neutral	+5.7%	Incremental A-share issuance from RSU exercises at DKK 148.70.
Mar 17	Insider share sale	Neutral	-1.7%	CEO disclosed sale of 223,555 shares on Nasdaq Copenhagen.
Mar 16	RSU capital increase	Neutral	+2.0%	106,468 A-shares issued from RSU exercise at set DKK prices.
Mar 09	Major holder update	Neutral	+1.5%	Oaktree-related holder confirmed 23.39% stake in TORM.
Mar 05	AGM notice	Neutral	-5.8%	Formal notice and proposals for 2026 Annual General Meeting.

Pattern Detected

Recent small capital increases and shareholder disclosures have typically seen modest single-day moves in both directions, suggesting the market treats these RSU and ownership updates as routine rather than major catalysts.

Recent Company History

Over March 2026, TORM has repeatedly adjusted its share capital through RSU exercises and reported major shareholder and governance updates. On Mar 16 and Mar 24, similar RSU-driven capital increases led to modest positive moves of 1.98% and 5.71%. A major shareholder update on Mar 9 coincided with a 1.52% gain, while AGM notice and insider sale headlines on Mar 5 and Mar 17 saw mild declines. Today’s RSU-related capital increase continues this pattern of incremental, programmatic equity changes.

Market Pulse Summary

This announcement details a modest capital increase of 43,697 A-shares from RSU exercises under TORM...

Analysis

This announcement details a modest capital increase of 43,697 A-shares from RSU exercises under TORM’s incentive program, bringing total share capital to USD 1,021,233.39 and 102,123,339 A-shares outstanding. The new shares carry full dividend and voting rights and were issued without pre-emption rights. Recent history shows similar, incremental RSU-driven increases, so investors may focus on the cumulative effect of ongoing share issuance alongside underlying tanker market conditions.

Key Terms

restricted share units, rsus, pre-emption rights, negotiable instruments, +2 more

6 terms

restricted share units financial

"as a result of the exercise of a corresponding number of Restricted Share Units"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

rsus financial

"exercise of a corresponding number of Restricted Share Units ("RSUs")"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

pre-emption rights financial

"carried out without any pre-emption rights for existing shareholders or others"

A shareholder’s right to be offered new shares before they are sold to outsiders, allowing existing owners to buy enough to keep their ownership percentage. Think of it like being offered the first slice of a pie so your share doesn’t shrink; it matters to investors because it protects voting power and economic value from being diluted when a company issues more stock, and it can affect how easy or costly fundraising is.

negotiable instruments financial

"the new shares (i) are ordinary shares without any special rights and are negotiable instruments"

Negotiable instruments are written promises or orders to pay a specific sum of money that can be transferred from one person to another—examples include checks, promissory notes, and bills of exchange—so the current holder has the legal right to collect payment. They matter to investors because they act like tradable cash or IOUs, influencing a company’s liquidity and short-term credit risk; holding or issuing them affects how quickly a business can access cash and how safe its short-term finances appear.

forward-looking statements regulatory

"Matters discussed in this release may constitute forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

the private securities litigation reform act of 1995 regulatory

"The Private Securities Litigation Reform Act of 1995 provides safe harbor protections"

A U.S. law that changed the rules for private lawsuits over alleged misstatements in securities, making it harder to file weak or purely speculative claims while preserving genuine investor rights. Think of it as tightening the gate for complaints: plaintiffs now must show specific facts to get a case started, companies get limited protection for forward-looking statements, and procedures for choosing lead plaintiffs and calculating damages are clarified — all of which affect litigation risk and company valuations.

AI-generated analysis. Not financial advice.

HELLERUP, Denmark, March 31, 2026 /PRNewswire/ -- TORM plc (NASDAQ: TRMD) (NASDAQ: TRMD A) has increased its share capital by 43,697 A-shares (corresponding to a nominal value of USD 436.97) as a result of the exercise of a corresponding number of Restricted Share Units ("RSUs"). A total of 10,634 new shares are subscribed for in cash at DKK 131.80 per A-share, and 33,063 new shares are subscribed for in cash at DKK 148.70.

Transfer restrictions may apply in certain jurisdictions outside Denmark, including applicable US securities laws. The capital increase is carried out without any pre-emption rights for existing shareholders or others.

The new shares (i) are ordinary shares without any special rights and are negotiable instruments, (ii) give the right to dividends and other rights in relation to TORM as of the date of issuance and (iii) are expected to be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible.

After the capital increase, TORM's share capital totals to USD 1,021,233.39 divided into 102,123,339 A-shares with a nominal value of USD 0.01 each. Each A-share carries one vote.

Contact
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002

About TORM

TORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.

Safe Harbor Statement as to the Future

Matters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.

The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.

In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.

Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

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https://news.cision.com/torm-plc/r/torm-plc-capital-increase-in-connection-with-exercise-of-restricted-share-units-as-part-of-torm-s-in,c4328020

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10-2026 - TORM plc capital increase in connection with RSU exercise as part of TORM’s incentive program

 

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SOURCE Torm PLC

FAQ

How many A-shares did TORM (TRMD A) issue on March 31, 2026?

TORM issued 43,697 A-shares on March 31, 2026 as a result of RSU exercises. According to the company, 10,634 were subscribed at DKK 131.80 and 33,063 at DKK 148.70, increasing outstanding A-shares to 102,123,339.

What is the effect of the RSU-related capital increase on TORM's (TRMD A) share capital?

The capital increase raised TORM's share capital to USD 1,021,233.39, divided into 102,123,339 A-shares. According to the company, each A-share retains one vote and dividend rights from issuance date.

Were pre-emption rights offered to TORM (TRMD A) shareholders for the March 2026 issuance?

No; the capital increase was carried out without pre-emption rights for existing shareholders or others. According to the company, shares were issued in connection with RSU exercises under its incentive program.

Will the newly issued TORM (TRMD A) shares be tradable and where will they list?

Yes; the new shares are ordinary negotiable instruments and are expected to be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible, according to the company.

Do the new TORM (TRMD A) shares carry dividends and voting rights from issuance?

Yes; the newly issued A-shares give the right to dividends and other shareholder rights from the date of issuance. According to the company, each A-share carries one vote and standard dividend entitlements.