TORM CEO Exercises 85,067 Restricted Shares Worth DKK 15.3 Million

TORM plc announced that its CEO, Jacob Balslev Meldgaard, exercised 85,067 restricted share units on September 24, 2026, at a price of DKK 179.80 per share, representing a total value of DKK 15,295,046.60. The transaction was carried out outside a trading venue and was reported as an initial notification.

The transaction took place amid a reshuffling of TORM's shareholder base. OCM Njord, controlled by Brookfield, launched a secondary public offering to sell its entire stake of 6,329,874 Class A shares, equivalent to 6.17% of the company, with JP Morgan acting as sole bookrunner. Should the sale go through, Hafnia, backed by BW Group, would become TORM's largest shareholder with a stake of around 19.83%, after having invested approximately USD 514 million in building up its position.

Despite the shareholder movements, TORM continued investing in its fleet. The company exercised options for two newbuild MR product tankers at the Chinese shipyard Zhoushan Changhong International Shipyard, bringing the total number of vessels under that program to eight, with deliveries scheduled for 2030. TORM reported that it currently controls and operates 95 product tankers.

At the same time, TORM raised its full-year 2026 guidance, now forecasting TCE earnings of between USD 1,700 million and USD 1,900 million and EBITDA of between USD 1,300 million and USD 1,500 million, up from the previous guidance of USD 1,400-1,600 million and USD 1,000-1,200 million, respectively. CEO Jacob Meldgaard attributed the upgrade to exceptional market strength and strong execution by the company.