[Form 3] Flex LNG Ltd. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Flex LNG Ltd. Chief Executive Officer Halfdan Marius Foss reported his initial holdings of derivative awards tied to the company’s shares. He holds synthetic share options over 82,724 underlying ordinary shares with an exercise price of $22.25 per share, expiring on June 24, 2030.

The options vest over three years in equal one‑third portions on June 24, 2026, June 24, 2027, and June 24, 2028, becoming exercisable as they vest. The exercise price is reduced by any dividends declared between grant and exercise, but never below the shares’ par value.

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^*

Foss Halfdan Marius

(Last) (First) (Middle)

C/O FLEX LNG LTD

14 PAR-LA-VILLE PLACE

(Street)

HAMILTON HM 08

(City) (State) (Zip)

BERMUDA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Flex LNG Ltd. [ FLNG ]

3a. Foreign Trading Symbol

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

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

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

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
Synthetic share options	(1)	06/24/2030	Ordinary shares	82,724	$22.25(2)	D

Explanation of Responses:

1. The synthetic share options issued pursuant to the Issuer's Share Option Scheme vest over a three-year period in increments of 1/3 per annum with initial vesting on June 24, 2026 and subsequent vesting on June 24, 2027 and June 24, 2028. These synthetic share options become exercisable upon vesting.

2. The exercise price for all options granted under the scheme is reduced by the amount of all dividends declared by the Company (the "Adjusted Exercise Price") in the period from the date of grant until the date the option is exercised, provided the Adjusted Exercise Price is never reduced below the par value of the share.

	/s/ H. Marius Foss	03/18/2026
	** 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).
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 3: SEC 1473 (03-26)

FAQ

What insider holdings does Flex LNG (FLNG) CEO Halfdan Marius Foss report on this Form 3?

Halfdan Marius Foss reports synthetic share options linked to 82,724 Flex LNG ordinary shares. These derivatives provide potential future equity exposure rather than current share ownership, with vesting and exercise terms defined under the company’s share option scheme.

What is the exercise price of the Flex LNG (FLNG) CEO’s synthetic share options?

The synthetic share options have an exercise price of $22.25 per share. This price is adjusted downward over time by any dividends declared before exercise, while always remaining at or above the par value of the underlying Flex LNG ordinary shares.

How do the Flex LNG (FLNG) CEO’s synthetic share options vest over time?

The options vest in three equal annual installments. One‑third vests on June 24, 2026, another third on June 24, 2027, and the final third on June 24, 2028, with each vested portion becoming exercisable at its respective vesting date.

When do the Flex LNG (FLNG) CEO’s synthetic share options expire?

The synthetic share options reported by the CEO expire on June 24, 2030. After this expiration date, any unexercised options cease to be valid, meaning they can no longer be used to acquire Flex LNG ordinary shares under the scheme.

How are Flex LNG (FLNG) dividends treated under the CEO’s synthetic share option terms?

Any dividends declared from the grant date until exercise reduce the options’ exercise price, creating an adjusted exercise price. However, this adjusted price can never fall below the par value of the Flex LNG ordinary shares underlying the synthetic options.