Company: LPG
Filing Date: 2025-07-22
Form Type: DEF 14A
Source: 0001558370-25-009356
Chunk: 49

Company: DORIAN LPG LTD.
Filing Date: 2025-07-22
Form: DEF 14A
Chunk 49
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5/2024   | ​ |                                             84,500 | ​ | $ |                                            3,140,020 | ​ |
| John C. Lycouris          | ​ | 8/5/2024   | ​ |                                             30,000 | ​ | $ |                                            1,114,800 | ​ |
| Theodore B. Young         | ​ | 8/5/2024   | ​ |                                             33,000 | ​ | $ |                                            1,226,280 | ​ |
| Tim T. Hansen             | ​ | 8/5/2024   | ​ |                                             25,000 | ​ | $ |                                              929,000 | ​ |
| Alexander C. Hadjipateras | ​ | 8/5/2024   | ​ |                                             30,000 | ​ | $ |                                            1,114,800 | ​ |

| (1) | Represents the aggregate grant date fair value of awards computed in accordance with FASB ASC Topic 718. |

Transition to Include Performance-Based LTI Awards Beginning FY2026 For Fiscal Year 2026, the Compensation Committee took a significant step in the evolution of our executive compensation program by introducing performance-based equity awards as part of our Long-Term Incentive (“LTI”) structure. Historically, our LTI program consisted solely of time-based restricted stock, which has served us well in retaining leadership and encouraging long-term value creation. The Committee determined that a more performance-oriented approach would better support shareholder interests and further align executive pay with measurable results. The shift to performance-based equity reflects the Committee’s belief that a meaningful portion of executive compensation should be directly tied to the achievement of specific outcomes that enhance shareholder value over the long term. In adopting this structure, the Committee aimed to foster a stronger pay-for-performance culture, strengthen accountability at the senior leadership level, and ensure our compensation practices remain competitive within the capital-intensive and highly cyclical shipping industry. Beginning in Fiscal Year 2026 (in relation to services performed in Fiscal Year 2025), LTI awards for our Named Executive Officers will be determined based on a pre-established target value, approved by the Compensation Committee, and expressed as a percentage of each executive’s base salary. Under this structure, 20% of the total LTI award value will be granted in the form of performance-based restricted stock units (“PSUs”), with the remaining 80% awarded as time-based restricted stock. This initial allocation represents