Santos boss Kevin Gallagher awarded $5m worth of incentive shares, his stake now worth a whopping $41m

Santos chief executive Kevin Gallagher has been granted millions of dollars worth of additional shares in the oil and gas giant after hitting long-term incentives. An ASX filing on Monday showed he had been awarded more than 665,000 shares through acquisition rights, worth $5.08 million at the current price of $7.65. Mr Gallagher’s interest, including held shares and those yet to vest, totals more than 5.35 million shares worth about $41m. He has been at the helm for a decade and speculation about his future has mounted since the eleventh-hour collapse of a $29 billion takeover bid by an Abu Dhabi-led consortium in September. It was the third time Santos was left at the corporate altar by would-be suitors. “I’m as committed as ever and energetic,” Mr Gallagher told reporters at the company’s recent annual general meeting. Chair Keith Spence is stepping down in April 2027 after nine years.