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VAALCO Energy (EGY) CEO receives time- and performance-based restricted stock awards

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Maxwell George W.M. reported acquisition or exercise transactions in this Form 4 filing.

VAALCO Energy (EGY) CEO George W.M. Maxwell reported two equity compensation grants of common stock. On June 4, 2026, he was awarded 211,945 shares of restricted stock under the VAALCO Energy, Inc. 2020 Long Term Incentive Plan, vesting in three equal annual installments starting one year after grant. He also received an additional 151,297 restricted shares under the same plan, which vest in three equal annual installments beginning one year after grant based on stock price appreciation thresholds of 10.0%, 15.0% and 20.0% using a 30‑day average price. The reported total direct holdings after these grants are 1,288,616 shares and 1,076,671 shares of common stock, as shown for the respective awards. These are compensation-related awards at no cash cost per share, not open‑market purchases.

Positive

  • None.

Negative

  • None.

Insights

Routine stock grants increase CEO’s equity-based compensation and align incentives.

The filing shows CEO George W.M. Maxwell receiving two restricted stock awards under the 2020 Long Term Incentive Plan. One grant of 211,945 shares vests over three years, while another of 151,297 shares vests over three years subject to stock price appreciation hurdles.

These are non-cash, compensation-related acquisitions at $0.0000 per share, not open-market purchases. They modestly increase potential dilution but are typical for senior executives. The awards tie part of the CEO’s compensation to both time-based service and achieving specified 10.0%, 15.0% and 20.0% stock price appreciation thresholds.

No derivative exercises or sales are reported, and derivativeSummary is empty. Subsequent company filings may provide further detail on how these equity awards contribute to the overall compensation mix and any future vesting or forfeiture outcomes.

Insider Maxwell George W.M.
Role Chief Executive Officer
Type Security Shares Price Value
Grant/Award Common Stock 151,297 $0.00 --
Grant/Award Common Stock 211,945 $0.00 --
Holdings After Transaction: Common Stock — 1,076,671 shares (Direct, null)
Footnotes (1)
  1. Represents shares of restricted stock granted to the reporting person pursuant to the VAALCO Energy, Inc. 2020 Long Term Incentive Plan (the "Plan"). The shares vest in three equal annual installments beginning on the first anniversary of the date of grant. Represents shares of restricted stock granted to the reporting person pursuant to the Plan. The option vests in three equal annual installments beginning on the first anniversary of the date of grant based upon satisfaction of stock price appreciation of 10.0%, 15.0% and 20.0%, respectively, using a 30-day average stock price from the stock price on the date of the grant.
Restricted stock grant 1 211,945 shares Restricted stock granted June 4, 2026; time-based vesting over three years
Restricted stock grant 2 151,297 shares Restricted stock granted June 4, 2026; vests over three years with price hurdles
Holdings after grant 1 1,288,616 shares Total common shares directly owned following first reported award
Holdings after grant 2 1,076,671 shares Total common shares directly owned following second reported award
Stock price hurdles 10.0%, 15.0%, 20.0% Appreciation thresholds for performance-based vesting using 30-day average price
restricted stock financial
"Represents shares of restricted stock granted to the reporting person pursuant to the VAALCO Energy, Inc. 2020 Long Term Incentive Plan"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
2020 Long Term Incentive Plan financial
"Represents shares of restricted stock granted to the reporting person pursuant to the VAALCO Energy, Inc. 2020 Long Term Incentive Plan (the "Plan")"
stock price appreciation financial
"based upon satisfaction of stock price appreciation of 10.0%, 15.0% and 20.0%, respectively"
30-day average stock price financial
"using a 30-day average stock price from the stock price on the date of the grant"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Maxwell George W.M.
(Last)(First)(Middle)
2500 CITYWEST BLVD.,
SUITE 400
(Street)
HOUSTON TEXAS 77042
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
VAALCO ENERGY INC /DE/ [ EGY ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chief Executive Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock06/04/2026A151,297(1)A$0.001,076,671D
Common Stock06/04/2026A211,945(2)A$0.001,288,616D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents shares of restricted stock granted to the reporting person pursuant to the VAALCO Energy, Inc. 2020 Long Term Incentive Plan (the "Plan"). The shares vest in three equal annual installments beginning on the first anniversary of the date of grant.
2. Represents shares of restricted stock granted to the reporting person pursuant to the Plan. The option vests in three equal annual installments beginning on the first anniversary of the date of grant based upon satisfaction of stock price appreciation of 10.0%, 15.0% and 20.0%, respectively, using a 30-day average stock price from the stock price on the date of the grant.
/s/ George Maxwell by Matthew Powers as attorney-in-fact06/08/2026
** Signature of Reporting PersonDate
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 4 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did VAALCO Energy (EGY) report for CEO George W.M. Maxwell?

VAALCO Energy reported that CEO George W.M. Maxwell received two grants of restricted common stock as equity compensation. One grant covers 211,945 shares and another 151,297 shares, both awarded on June 4, 2026 under the company’s 2020 Long Term Incentive Plan.

How many VAALCO Energy (EGY) shares were granted to the CEO in this Form 4?

The CEO was granted 211,945 shares of restricted common stock and an additional 151,297 restricted shares. Both awards are recorded at a transaction price of $0.0000 per share, reflecting compensation grants rather than open-market stock purchases by the executive.

What are the vesting terms for the VAALCO Energy (EGY) CEO’s new restricted stock awards?

Both awards vest in three equal annual installments beginning on the first anniversary of the grant date. One grant vests solely over time, while the other also depends on meeting 10.0%, 15.0% and 20.0% stock price appreciation targets based on a 30‑day average price.

Did the VAALCO Energy (EGY) CEO buy these shares on the open market?

No. The shares were granted as restricted stock awards at $0.0000 per share under VAALCO’s 2020 Long Term Incentive Plan. They represent compensation-based acquisitions, not open-market purchases, and are subject to multi-year vesting and, for one grant, stock price performance conditions.

How many VAALCO Energy (EGY) shares does the CEO hold after these grants?

Following the reported grants, the filing shows direct beneficial ownership totals of 1,288,616 shares and 1,076,671 shares of common stock after the respective awards. These figures reflect updated holdings associated with each transaction entry in the Form 4 filing data.

Do the VAALCO Energy (EGY) CEO’s restricted stock awards include performance conditions?

Yes. One restricted stock grant vests over three years based on stock price appreciation of 10.0%, 15.0% and 20.0%. Vesting uses a 30‑day average stock price from the price on the grant date, in addition to the standard three-year installment schedule.