Flex LNG CEO exercises 27,575 cash-settled options

Flex LNG Ltd. (FLNG) reports that Chief Executive Officer Foss Halfdan Marius exercised 27,575 vested cash-settled synthetic options on August 20, 2026 under the issuer's Synthetic Option Scheme.

Rhea-AI Filing Summary

Flex LNG Ltd. (FLNG) reports that Chief Executive Officer Foss Halfdan Marius exercised 27,575 vested cash-settled synthetic options on August 20, 2026 under the issuer's Synthetic Option Scheme. The cash settlement was based on the $32.48 NYSE closing price on August 19, 2026 minus the $20.75 strike price per synthetic share option. No ordinary shares were issued upon exercise. Following this transaction, he held 167,042 synthetic options, which are cash-settled instruments and do not represent rights to acquire ordinary shares.

Insider Trade Summary

27,575 shares exercised/converted

Exercise 1 txn

Insider Foss Halfdan Marius

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Synthetic options F1, F2, F3	27,575	$0.00	$0.00

Holdings After Transaction: Synthetic options — 167,042 contracts (Direct)

Footnotes (3)

1. F1. On August 20, 2026, the reporting person exercised 27,575 vested synthetic options for cash settlement pursuant to the Issuer's Synthetic Option Scheme. The cash settlement value was determined based on the closing price of the Issuer's ordinary shares on the New York Stock Exchange on August 19, 2026 of $32.48 per share less the strike price of $20.75 per synthetic share option, which reflects adjustments made pursuant to the Issuer's Synthetic Option Scheme, including adjustments for dividends. No ordinary shares were issued upon exercise.
2. F2. The reported exercise relates to the first tranche of synthetic options granted on June 24, 2025 under the Issuer's Synthetic Option Scheme. This tranche consisted of 27,575 synthetic options, all of which vested on June 24, 2026 and became exercisable upon vesting. The synthetic options issued pursuant to the Issuer's Synthetic Option Scheme vest over a three-year period in increments of one-third per annum with initial vesting on June 24, 2026 and subsequent vesting on June 24, 2027 and June 24, 2028.
3. F3. The reported securities are cash-settled synthetic options granted under the Issuer's Synthetic Option Scheme and do not represent a right to acquire ordinary shares of the Issuer.

Key Figures

Synthetic options exercised: 27,575 synthetic options Strike price per synthetic share option: $20.75 per synthetic share option Reference share price: $32.48 per share +5 more

8 metrics

Synthetic options exercised 27,575 synthetic options Vested synthetic options exercised for cash settlement on August 20, 2026

Strike price per synthetic share option $20.75 per synthetic share option Exercise price used to compute cash settlement value

Reference share price $32.48 per share Closing price of ordinary shares on NYSE on August 19, 2026 used for settlement

Synthetic options following transaction 167,042 synthetic options Total cash-settled synthetic options held by CEO after exercise

Grant date of reported tranche June 24, 2025 First tranche of synthetic options granted under Synthetic Option Scheme

Vesting date of exercised tranche June 24, 2026 All 27,575 options in this tranche vested and became exercisable on this date

Expiration date of synthetic options June 24, 2030 Expiration date reported for the cash-settled synthetic options

Vesting period Three-year vesting in one-third increments Initial vesting June 24, 2026; subsequent vesting June 24, 2027 and June 24, 2028

Key Terms

Synthetic Option Scheme, cash-settled synthetic options, vested synthetic options, strike price, +1 more

5 terms

Synthetic Option Scheme financial

"exercised 27,575 vested synthetic options for cash settlement pursuant to the Issuer's Synthetic Option Scheme"

cash-settled synthetic options financial

"The reported securities are cash-settled synthetic options granted under the Issuer's Synthetic Option Scheme"

vested synthetic options financial

"the reporting person exercised 27,575 vested synthetic options for cash settlement"

strike price financial

"less the strike price of $20.75 per synthetic share option"

The strike price is the fixed price at which an option gives its holder the right to buy or sell an underlying stock. Think of it like a coupon that lets you transact at a pre-agreed price regardless of the market; for investors it determines whether an option will be profitable, influences potential gains or losses, and is a key factor in the option’s market value and risk profile.

cash settlement value financial

"The cash settlement value was determined based on the closing price"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did FLNG CEO Foss Halfdan Marius report in this Form 4?

He reported exercising 27,575 vested cash-settled synthetic options on August 20, 2026 under Flex LNG Ltd.'s Synthetic Option Scheme, receiving a cash settlement and no new ordinary shares were issued.

What prices determined the cash settlement in the FLNG CEO’s option exercise?

The cash settlement was based on the $32.48 closing price of Flex LNG’s ordinary shares on August 19, 2026, less the $20.75 strike price per synthetic share option, as adjusted under the Synthetic Option Scheme.

How many synthetic options does the FLNG CEO hold after this transaction?

After the reported exercise, Foss Halfdan Marius held 167,042 synthetic options, according to the filing, all of which are cash-settled and do not represent rights to acquire ordinary shares of Flex LNG Ltd.

Do the exercised FLNG synthetic options give the CEO ordinary shares?

No. The filing states that these are cash-settled synthetic options and that no ordinary shares were issued upon exercise, so the CEO received cash rather than additional equity.

How do the FLNG CEO’s synthetic options vest under the scheme?

The tranche exercised consisted of 27,575 synthetic options granted June 24, 2025, which all vested on June 24, 2026. Options under the scheme vest over three years in one‑third increments on June 24, 2026, 2027, and 2028.

When do the reported FLNG synthetic options expire?

The derivative line shows an expiration date of June 24, 2030 for the reported cash-settled synthetic options held by the CEO under Flex LNG Ltd.'s Synthetic Option Scheme.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/21/2026 - 04:26 PM Accepted by SEC EDGAR 08/21/2026 - 04:25 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED 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^*

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Synthetic options	$20.75(1)	08/20/2026		M		27,575		06/24/2026(2)	06/24/2030	Cash-settled synthetic option	(3)	$0	167,042	D

Explanation of Responses:

1. On August 20, 2026, the reporting person exercised 27,575 vested synthetic options for cash settlement pursuant to the Issuer's Synthetic Option Scheme. The cash settlement value was determined based on the closing price of the Issuer's ordinary shares on the New York Stock Exchange on August 19, 2026 of $32.48 per share less the strike price of $20.75 per synthetic share option, which reflects adjustments made pursuant to the Issuer's Synthetic Option Scheme, including adjustments for dividends. No ordinary shares were issued upon exercise.

2. The reported exercise relates to the first tranche of synthetic options granted on June 24, 2025 under the Issuer's Synthetic Option Scheme. This tranche consisted of 27,575 synthetic options, all of which vested on June 24, 2026 and became exercisable upon vesting. The synthetic options issued pursuant to the Issuer's Synthetic Option Scheme vest over a three-year period in increments of one-third per annum with initial vesting on June 24, 2026 and subsequent vesting on June 24, 2027 and June 24, 2028.

3. The reported securities are cash-settled synthetic options granted under the Issuer's Synthetic Option Scheme and do not represent a right to acquire ordinary shares of the Issuer.

	/s/ Marius Halfdan Foss	08/21/2026
	** 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 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)