Flex LNG (FLNG) CFO reports 61,043 synthetic share options vesting 2026–2028

Rhea-AI Filing Summary

Flex LNG Ltd. disclosed the initial holdings of Chief Financial Officer Knut Traaholt in a Form 3. He holds synthetic share options linked to 61,043 ordinary shares, with an exercise price of 22.25 per share and an expiration date of June 24, 2030.

The options vest in three equal annual installments, with one-third vesting on June 24, 2026, another third on June 24, 2027, and the final third on June 24, 2028. Upon vesting, the options become exercisable. The exercise price is reduced by dividends declared between grant and exercise, but never below the share’s 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^*

Traaholt Knut

(Last) (First) (Middle)

C/O FLEX LNG LTD

14 PAR-LA-VILLE PLACE

(Street)

HAMILTON HM 08

(City) (State) (Zip)

UNITED STATES

(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 Financial 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	61,043	$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/ Knut Traaholt	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 did Flex LNG (FLNG) report in this Form 3 filing?

Flex LNG reported Chief Financial Officer Knut Traaholt’s initial derivative holdings. He holds synthetic share options referencing 61,043 ordinary shares, with a defined vesting schedule and expiration date. This filing establishes his baseline beneficial ownership as an officer rather than reporting any new share purchase or sale.

How many synthetic share options does the Flex LNG CFO hold?

The CFO holds synthetic share options over 61,043 underlying ordinary shares. These options are part of Flex LNG’s share option scheme, vest in three equal annual tranches, and become exercisable upon vesting. The filing shows this entire amount as a direct derivative holding as of the reported date.

What is the vesting schedule for the Flex LNG CFO’s synthetic share options?

The options vest over three years, in one-third increments. Vesting dates are June 24, 2026, June 24, 2027, and June 24, 2028. Once each tranche vests, those options become exercisable. This structure ties the CFO’s potential benefit to a multi-year service and performance horizon.

When do the Flex LNG synthetic share options held by the CFO expire?

The synthetic share options expire on June 24, 2030. This gives the CFO a multi-year window, after vesting, to decide when to exercise them. After the expiration date, any unexercised options lapse and no longer provide the right to receive value linked to Flex LNG shares.

How is the exercise price of the Flex LNG CFO’s options adjusted for dividends?

The exercise price is reduced by all dividends declared from grant to exercise. This adjustment lowers the effective exercise price as dividends are paid, but it cannot go below the par value of the share. The structure helps align option value with total shareholder returns, including dividends.

Does this Flex LNG Form 3 show the CFO buying or selling shares?

No, the Form 3 does not show any share purchases or sales. It records the CFO’s existing synthetic share options as an initial statement of beneficial ownership. The single entry is categorized as a holding, not a transaction, and there are no buy or sell codes reported.