PGS Management

Management criteria checks 2/4

PGS' CEO is Rune Pedersen, appointed in Sep 2017, has a tenure of 6.67 years. total yearly compensation is $1.10M, comprised of 52.5% salary and 47.5% bonuses, including company stock and options. directly owns 0.076% of the company’s shares, worth NOK6.25M. The average tenure of the management team and the board of directors is 5.3 years and 5.1 years respectively.

Key information

Rune Pedersen

Chief executive officer

US$1.1m

Total compensation

CEO salary percentage	52.5%
CEO tenure	6.7yrs
CEO ownership	0.08%
Management average tenure	5.3yrs
Board average tenure	5.1yrs

Recent management updates

Recent updates

Shareholders May Find It Hard To Justify Increasing PGS ASA's (OB:PGS) CEO Compensation For Now

Apr 14

PGS' (OB:PGS) Stock Price Has Reduced 79% In The Past Five Years

Mar 01

Is PGS (OB:PGS) Using Too Much Debt?

Jan 26

How Is PGS' (OB:PGS) CEO Compensated?

Dec 22

CEO Compensation Analysis

How has Rune Pedersen's remuneration changed compared to PGS's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-US$14m
Sep 30 2023	n/a	n/a	-US$80m
Jun 30 2023	n/a	n/a	-US$70m
Mar 31 2023	n/a	n/a	-US$42m
Dec 31 2022	US$1m	US$576k	-US$33m
Sep 30 2022	n/a	n/a	-US$81m
Jun 30 2022	n/a	n/a	-US$145m
Mar 31 2022	n/a	n/a	-US$189m
Dec 31 2021	US$805k	US$612k	-US$179m
Sep 30 2021	n/a	n/a	-US$186m
Jun 30 2021	n/a	n/a	-US$158m
Mar 31 2021	n/a	n/a	-US$243m
Dec 31 2020	US$742k	US$464k	-US$321m
Sep 30 2020	n/a	n/a	-US$250m
Jun 30 2020	n/a	n/a	-US$186m
Mar 31 2020	n/a	n/a	-US$124m
Dec 31 2019	US$937k	US$534k	-US$72m
Sep 30 2019	n/a	n/a	-US$106m
Jun 30 2019	n/a	n/a	-US$173m
Mar 31 2019	n/a	n/a	-US$113m
Dec 31 2018	US$828k	US$504k	-US$88m
Sep 30 2018	n/a	n/a	-US$259m
Jun 30 2018	n/a	n/a	-US$414m
Mar 31 2018	n/a	n/a	-US$457m
Dec 31 2017	US$571k	US$453k	-US$523m

Compensation vs Market: Rune's total compensation ($USD1.10M) is above average for companies of similar size in the Norwegian market ($USD767.10K).

Compensation vs Earnings: Rune's compensation has increased whilst the company is unprofitable.

CEO

Rune Pedersen (53 yo)

6.7yrs

Tenure

US$1,095,787

Compensation

Mr. Rune Olav Pedersen is Chairperson of Petroleum Geo-Services AS. Mr. Pedersen has been President and Chief Executive Officer of PGS ASA (formerly known as Petroleum Geo-Services ASA) since September 1,...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Rune Pedersen	President & CEO	6.7yrs	US$1.10m	0.076% $ 6.3m
Gottfred Langseth	CFO & Executive VP	20.3yrs	US$663.96k	0.14% $ 11.2m
Robert Adams	Executive Vice President of Operations	4.3yrs	US$554.06k	0.0055% $ 453.2k
Nathan Oliver	Executive Vice President of Sales & Services	5.3yrs	US$587.01k	0.0016% $ 128.9k
Anette Valbo	Bid Manager & Employee Elected Director	no data	US$12.57k	0.00041% $ 33.7k
Berit Osnes	Executive Vice President of New Energy	5.3yrs	US$538.44k	0.0083% $ 678.1k
Gunhild Myhr	VP of Business Development for Europe & Employee Elected Director	no data	US$12.57k	0.00020% $ 16.4k
Eivind Versteras	Special Projects Manager of Operations Division & Employee Elected Director	no data	US$12.57k	0.011% $ 934.2k
David Dakin	Chief Accounting Officer	no data	no data	no data
Erik Ewig	Senior Vice President of Technology & Digitalization	4.3yrs	no data	0.00078% $ 64.0k
Bard Stenberg	Vice President of IR & Corporate Communication	no data	no data	0.0027% $ 224.1k
Lars van der Bijl Mysen	General Counsel	no data	no data	0.021% $ 1.7m

5.3yrs

Average Tenure

57yo

Average Age

Experienced Management: PGS's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Anette Valbo	Bid Manager & Employee Elected Director	9.3yrs	US$12.57k	0.00041% $ 33.7k
Gunhild Myhr	VP of Business Development for Europe & Employee Elected Director	3.3yrs	US$12.57k	0.00020% $ 16.4k
Eivind Versteras	Special Projects Manager of Operations Division & Employee Elected Director	3.3yrs	US$12.57k	0.011% $ 934.2k
Anne Dalane	Independent Vice Chairperson	11.3yrs	US$73.86k	0.0077% $ 628.8k
Richard Herbert	Independent Director	7yrs	US$75.00k	0.012% $ 999.1k
Trond Brandsrud	Independent Director	5.1yrs	US$68.93k	0.012% $ 947.4k
Walter Qvam	Independent Chairperson	11.3yrs	US$109.12k	0.014% $ 1.2m
Marianne Kah	Independent Director	6.1yrs	US$73.93k	0.0072% $ 590.2k
Ebrahim Attarzadeh	Independent Director	2.2yrs	US$39.75k	0% $ 0
Shona Grant	Independent Director	2.2yrs	US$33.55k	0.0079% $ 646.1k
Emeliana Rice-Oxley	Director	1.1yrs	no data	no data
Carine Roalkvam	Director	no data	no data	0.00041% $ 33.7k

5.1yrs

Average Tenure

65yo

Average Age

Experienced Board: PGS's board of directors are considered experienced (5.1 years average tenure).

PGS Management

Management criteria checks 2/4

Key information

Recent management updates

Independent Director recently sold kr1.1m worth of stock

Insider recently sold kr134k worth of stock

High number of new directors

High number of new directors

High number of new directors

High number of new directors

Recent updates

PGS ASA Provides Earnings Guidance for the First Quarter of 2024

PGS Commences MultiClient 3D Survey to Unlock Hydrocarbon and Carbon Storage Potential in Penyu Basin, Offshore Peninsular Malaysia

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Now 21% undervalued after recent price drop

PGS ASA Provides Financial Guidance for the Fourth Quarter of 2023

Independent Director recently sold kr1.1m worth of stock

Is PGS (OB:PGS) Using Too Much Debt?

Third quarter 2023 earnings released: US$0.007 loss per share (vs US$0.004 profit in 3Q 2022)

Now 23% undervalued

TGS ASA (OB:TGS) agreed the principal terms to acquire PGS ASA (OB:PGS) NOK 9.3 billion.

TGS ASA (OB:TGS) agreed the principal terms to acquire PGS ASA (OB:PGS) NOK 9.3 billion.

Insider recently sold kr134k worth of stock

An Intrinsic Calculation For PGS ASA (OB:PGS) Suggests It's 23% Undervalued

PGS, TGS and CGG Introduce New Tiered Offerings for Versal - the World's First MultiClient Data Ecosystem

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

New major risk - Share price stability

PGS ASA Provides Financial Guidance for the Second Quarter of 2023

PGS ASA Provides Financial Guidance for the Second Quarter of 2023

Does PGS (OB:PGS) Have A Healthy Balance Sheet?

PGS ASA to Report Q2, 2023 Results on Jul 20, 2023

Earnings Working Against PGS ASA's (OB:PGS) Share Price Following 25% Dive

Forecast breakeven date moved forward to 2023

High number of new directors

First quarter 2023 earnings: EPS and revenues miss analyst expectations

Here's Why PGS (OB:PGS) Can Manage Its Debt Responsibly

Full year 2022 earnings: EPS misses analyst expectations

PGS ASA to Report Fiscal Year 2022 Results on Mar 29, 2023

PGS ASA to Report Q1, 2023 Results on Apr 27, 2023

PGS ASA has completed a Follow-on Equity Offering in the amount of NOK 1.535975 billion.

Third quarter 2022 earnings released: EPS: US$0.003 (vs US$0.15 loss in 3Q 2021)

Here's Why PGS (OB:PGS) Is Weighed Down By Its Debt Load

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Consensus forecasts updated

PGS ASA (OB:PGS) commences an Equity Buyback Plan, under the authorization approved on April 27, 2022.

PGS ASA to Report Q2, 2022 Results on Jul 21, 2022

High number of new directors

Consensus forecasts updated

PGS ASA has completed a Follow-on Equity Offering in the amount of NOK 799.999999 million.

First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Forecast to breakeven in 2024

High number of new directors

PGS ASA Announces Southern North Sea Reprocessing Project

PGS ASA Provides Revenue Guidance for the First Quarter of 2022

High number of new directors

PGS ASA to Report Fiscal Year 2021 Results on Mar 30, 2022

PGS ASA to Report Fiscal Year 2021 Results on Mar 30, 2022

Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind

Forecast to breakeven in 2023

Consensus forecasts updated

Forecast to breakeven in 2024

Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind

Third quarter 2021 earnings released: US$0.15 loss per share (vs US$0.084 loss in 3Q 2020)

These 4 Measures Indicate That PGS (OB:PGS) Is Using Debt Extensively

Consensus forecasts updated

Second quarter 2021 earnings released: US$0.07 loss per share (vs US$0.29 loss in 2Q 2020)

Is PGS (OB:PGS) A Risky Investment?

Petroleum Geo-Services Announces PGS Flex Vision Reveals Significant Nearfield Potential

Consensus EPS estimates fall to -US$0.34

First quarter 2021 earnings released: US$0.10 loss per share (vs US$0.32 loss in 1Q 2020)

Independent Vice Chairperson recently bought kr151k worth of stock

Consensus EPS estimates increase to -US$0.30

Shareholders May Find It Hard To Justify Increasing PGS ASA's (OB:PGS) CEO Compensation For Now

PGS ASA Provides Earnings Guidance for the First Quarter of 2021

Full year 2020 earnings released: US$0.84 loss per share (vs US$0.21 loss in FY 2019)

Equinor Awards Multiyear 4D Framework Agreements to PGS

PGS' (OB:PGS) Stock Price Has Reduced 79% In The Past Five Years

New 90-day high: kr5.97

Full year 2020 earnings released: US$0.84 loss per share (vs US$0.21 loss in FY 2019)

Revenue and earnings beat expectations