Company: LPG
Filing Date: 2025-07-22
Form Type: DEF 14A
Source: 0001558370-25-009356
Chunk: 47

Company: DORIAN LPG LTD.
Filing Date: 2025-07-22
Form: DEF 14A
Chunk 47
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 Company during Fiscal Year 2025 (April 1, 2024 – March 31, 2025), the Compensation Committee approved the formula for the cash bonus awards on April 23, 2025. These awards will be recognized for accounting purposes in the first quarter of Fiscal Year 2026, in accordance with the Company's financial reporting practices. The bonus amounts are detailed in the following table:

| ​                         
 Name                      | ​ 
 ​ | ​                     
 Cash Bonus Awarded(1) |         ​ | ​    
 ​    |
|:--------------------------|:--|:----------------------|----------:|:-----|
| John C. Hadjipateras      | ​ | $                     | 1,312,500 | ​    |
| John C. Lycouris          | ​ | $                     | 1,050,000 | ​    |
| Theodore B. Young         | ​ | $                     | 1,050,000 | ​    |
| Tim T. Hansen             | ​ | $                     | 1,044,663 | (2)​ |
| Alexander C. Hadjipateras | ​ | $                     |   743,750 | ​    |

| (1) | In recognition of the officers’ contributions to the Company for Fiscal Year 2025. |

| (2) | Based on a conversion rate of 1 DKK = 0.144 USD. |

Planned Transition to a Formula-Based Incentive Framework For Fiscal Year 2025, the Compensation Committee transitioned to a formula-driven structure and plans to continue to utilize this formulaic structure in Fiscal Year 2026. This enhanced framework includes the following key features:

| ● | Clearly defined performance goals aligned with strategic and operational priorities; |

| ● | Pre-established threshold, target, and maximum performance levels; and |

| ● | Built-in payout leverage to provide appropriate incentive for outperformance and accountability for underperformance. |

These enhancements reflect the Committee’s commitment to aligning the Company’s compensation practices with evolving market standards and corporate governance best practices. By formalizing performance criteria, assigning explicit weightings, and incorporating a structured payout curve, the revised program will strengthen the alignment between executive pay and Company performance. In addition, these changes are expected to enhance transparency and predictability, giving shareholders greater insight into the performance objectives driving incentive compensation and the rationale behind award determinations. The enhanced program will reinforce the Company’s focus on accountability and long-term value creation. Equity-Based Compensation