Reconnaissance Energy Africa grants 7.7M stock options

Reconnaissance Energy Africa Ltd. has announced that its Board of Directors approved the grant of 7,715,900 stock options and 3,981,900 restricted share units (RSUs) to various directors, officers, employees, and consultants.

Under the company’s existing equity plans, the options are exercisable at $0.79 per share for a five-year term. The RSUs are set to vest over a three-year period. Of the total awards, 6,188,600 options and 3,484,200 RSUs were granted to insiders. The company noted that 4,210,000 options have expired since the previous grant on September 30, 2025. These awards are part of an annual compensation program intended to align participant interests with long-term share price performance.