TIDMGTE

RNS Number : 9399Q

Gran Tierra Energy Inc.

03 March 2021

March 3, 2021

Gran Tierra Energy Inc.

(the "Company")

Notification of Transactions in the Company's Shares by Directors and Persons Discharging Managerial Responsibility

The Company announces the following transactions in Performance Stock Units undertaken by directors / persons discharging managerial responsibility.

Performance Stock Units ("PSUs") and Stock Options have been granted to PDMRs effective March 1, 2021. The PSUs entitle the holder to receive, at the option of the Company, either the underlying number of shares of the Company's common stock upon vesting of such units or a cash payment equal to the value of the underlying shares. The PSUs granted on March 1, 2021 vest after three years, subject to the continued employment of the grantee. Upon vesting, the underlying number of common shares or the cash payment equivalent to their value may range from zero to 200% of the number of PSU's vested, based on the Company's performance with respect to the applicable performance targets.

Each Stock Option permits the holder to purchase one share of common stock of the Company at the stated exercise price. The exercise price equals the market price of a share of common stock at the time of grant. Stock Options vest over three years and expire five years from the date of issue.

The Notification of Dealing Form for the vesting and payment of the PSUs for PDMRs can be found below.

This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

Contact Information:

Gary Guidry

President and Chief Executive Officer

Ryan Ellson

Executive Vice President and Chief Financial Officer

Rodger Trimble

Vice President, Investor Relations

(403) 265-3221

info@grantierra.com

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                      Gary Guidry, President and Chief Executive Officer 
                                 Ryan Ellson, Executive Vice President and Chief Financial 
                                 Officer 
                                 Jim Evans, Vice President, Corporate Services 
                                 Rodger Trimble, Vice President, Investor Relations 
                                 Lawrence West, Vice President, Exploration 
     ------------------------  ------------------------------------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------------------------- 
 a)   Position/status           See 1 a) above 
     ------------------------  ------------------------------------------------------------- 
 b)   Initial                   Initial notification 
       notification 
       /Amendment 
     ------------------------  ------------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------------------------- 
 a)   Name                      Gran Tierra Energy Inc. 
     ------------------------  ------------------------------------------------------------- 
 b)   LEI                       549300IH2S17MAIUCM32 
     ------------------------  ------------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for (i) 
       each type of instrument; (ii) each type of transaction; (iii) 
       each date; and (iv) each place where transactions have been 
       conducted 
     --------------------------------------------------------------------------------------- 
 a)   Description                   Performance Stock Units 
       of the financial 
       instrument,                   Each Performance Stock Unit represents a contingent 
       type of instrument            right to receive one share of Gran Tierra Energy 
                                     Inc. common stock. 
      Identification                n/a 
       code 
     ----------------------------  --------------------------------------------------------- 
 b)   Nature of                     Grant of Performance Stock Units 
       the transaction 
     ----------------------------  --------------------------------------------------------- 
 c)   Price(s)                        PDMR               Price(s)    Volume (s) 
       and volume(s)                   Gary Guidry        n/a          1,631,068 
                                        Ryan Ellson        n/a         1,114,563 
                                        Jim Evans          n/a           650,485 
                                        Rodger Trimble     n/a           466,019 
                                        Lawrence West      n/a           650,485 
                                                         ----------  ----------- 
     ----------------------------  --------------------------------------------------------- 
 d)              Aggregated           Price(s)    Volume (s) 
                  information          n/a         4,512,620 
                  - Aggregated                    ----------- 
                  volume 
                  - Price 
 e)   Date of the                   01 March 2021 
       transaction 
 f)   Place of                      Outside a trading venue 
       the transaction 
     ----------------------------  --------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for (i) 
       each type of instrument; (ii) each type of transaction; (iii) 
       each date; and (iv) each place where transactions have been 
       conducted 
     --------------------------------------------------------------------------------------- 
 a)   Description                   Stock Options 
       of the financial 
       instrument,                   Each Stock Option represents a right to purchase 
       type of instrument            one share of Gran Tierra Energy Inc. common stock 
                                     at the stated exercise price 
      Identification                n/a 
       code 
     ----------------------------  --------------------------------------------------------- 
 b)   Nature of                     Grant of Stock Options 
       the transaction 
     ----------------------------  --------------------------------------------------------- 
 c)   Price(s)                        PDMR               Price(s)     Volume 
       and volume(s)                                                    (s) 
                                       Gary Guidry        USD 0.82     688,525 
                                        Ryan Ellson        USD 0.82     470,492 
                                        Jim Evans          USD 0.82     274,590 
                                        Rodger Trimble     USD 0.82     196,721 
                                        Lawrence West      USD 0.82     274,590 
                                                         -----------  --------- 
     ----------------------------  --------------------------------------------------------- 
 d)              Aggregated           Price(s)    Volume (s) 
                  information          USD 0.82    1,904,918 
                  - Aggregated                    ----------- 
                  volume 
                  - Price 
 e)   Date of the                   01 March 2021 
       transaction 
 f)   Place of                      Outside a trading venue 
       the transaction 
     ----------------------------  --------------------------------------------------------- 
 
 

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