Flex LNG Ltd. Chief Financial Officer Knut Traaholt filed a Form 4 on September 18, 2026, disclosing the cash-settled exercise of 20,348 vested synthetic options in Flex LNG Ltd. (NYSE:FLNG) on September 17, 2026.

Key Highlights

  • Transaction date: Knut Traaholt exercised 20,348 synthetic options on September 17, 2026.
  • Cash settlement only: No ordinary shares were issued upon exercise, according to the filing.
  • Settlement value basis: The cash settlement was calculated using the closing share price of $32.52 less the strike price of $20.00 per synthetic option.
  • Option grant origin: The exercised tranche was the first of three tranches granted on June 24, 2025, all of which vested on June 24, 2026.
  • Remaining holdings: Following the transaction, Traaholt beneficially owns 124,614 cash-settled synthetic options directly.
  • Vesting schedule: The synthetic options vest over three years in increments of one-third per annum, with subsequent vesting dates of June 24, 2027 and June 24, 2028.

Flex LNG CFO Knut Traaholt Exercises First Synthetic Option Tranche

According to the Form 4 filed on September 18, 2026, Knut Traaholt, Chief Financial Officer of Flex LNG Ltd., exercised 20,348 vested synthetic options on September 17, 2026 under the company's Synthetic Option Scheme. The filing states that the exercise was for cash settlement, with the value determined by subtracting the strike price of $20.00 from the closing price of the issuer's ordinary shares on the New York Stock Exchange on September 17, 2026, which was $32.52 per share. The filing confirms that no ordinary shares were issued upon exercise.

The exercised options represent the first tranche of synthetic options granted on June 24, 2025. The filing notes that this tranche consisted of 20,348 synthetic options, all of which vested on June 24, 2026 and became exercisable upon vesting. The broader grant vests over a three-year period in increments of one-third per annum, with subsequent vesting dates falling on June 24, 2027 and June 24, 2028.

The filing further clarifies that the remaining 124,614 synthetic options held directly by Traaholt following the transaction "do not represent a right to acquire ordinary shares of the Issuer" and are cash-settled instruments under the Synthetic Option Scheme. The expiration date for the reported derivative securities is listed as June 24, 2030.

What Was Disclosed

Flex LNG CFO Knut Traaholt disclosed a cash-settled exercise of 20,348 synthetic options at a $20.00 strike price against a $32.52 closing share price on September 17, 2026, with 124,614 synthetic options remaining in direct beneficial ownership.