BW LPG (BWLP) Chief People Officer discloses 50,812-share stock option position

Rhea-AI Filing Summary

BW LPG Ltd Chief People Officer reports stock option holdings. Leo Pui Ying discloses stock options over 50,812 underlying ordinary shares, with an exercise price of $12.96 per share. These options become exercisable on March 1, 2028 and are scheduled to expire on March 1, 2031, and are held directly.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Leo Pui Ying

(Last) (First) (Middle)

10 PASIR PANJANG ROAD

(Street)

#17-02 MAPLETREE BUSINESS CITY U0 117438

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
BW LPG Ltd [ BWLP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief People Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	03/01/2028	03/01/2031	Ordinary Shares	50,812	$12.96(1)	D

Explanation of Responses:

1. Reflects the exercise price as of the date of event of this Form 3, converted from NOK 126.559 to USD12.961 based on an exchange rate of NOK 1 to USD0.1024 as of March 13, 2026. Pursuant to the terms of the issuer's Long-Term Incentive Plan, the exercise price is subject to adjustment upon the occurrence of certain events and has been adjusted since the date the options were granted to reflect quarterly cash dividends.

Remarks:

Ex. 24 - Power of Attorney

	/s/ Sharon Tiong, as attorney-in-fact for Pui Ying Leo	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What does BW LPG (BWLP) Chief People Officer report in this Form 3?

The Chief People Officer, Leo Pui Ying, reports holding stock options linked to 50,812 ordinary shares of BW LPG Ltd. This Form 3 is an initial statement of beneficial ownership, showing existing derivative equity awards rather than a new market transaction.

How many BW LPG (BWLP) shares are covered by Leo Pui Ying’s options?

The reported stock options are linked to 50,812 underlying ordinary shares of BW LPG Ltd. This figure represents the number of shares that could be acquired upon exercise of the options, subject to their terms, vesting, and exercise conditions as disclosed.

What is the exercise price of the BW LPG (BWLP) stock options reported?

The stock options have an exercise price of $12.96 per share. A footnote explains this amount was converted from NOK 126.559 using an exchange rate as of March 13, 2026, and may be adjusted for events like quarterly cash dividends.

When can the BW LPG (BWLP) options held by Leo Pui Ying be exercised?

The options become exercisable on March 1, 2028. This future exercise date means the options cannot be converted into ordinary shares before then, aligning with the issuer’s Long-Term Incentive Plan and its vesting and adjustment provisions.

When do the BW LPG (BWLP) stock options reported in the Form 3 expire?

The reported stock options are scheduled to expire on March 1, 2031. After this expiration date, any unexercised options would no longer be exercisable, setting a clear time limit on when the Chief People Officer can use them to acquire shares.

Are the BW LPG (BWLP) options held directly by Leo Pui Ying or through an entity?

The filing shows the options as held with direct ownership. There is no indication in the provided footnotes that the holdings are through a separate trust, partnership, or other entity, so they are attributed personally to the Chief People Officer.