X0306 4 2020-06-25 0 0000894627 VAALCO ENERGY INC /DE/ EGY 0001772934 Silver Michael G 9800 RICHMOND AVENUE, SUITE 700 HOUSTON TX 77042 0 1 0 0 EVP, Gen. Counsel & Corp. Sect Common Stock 2020-06-25 4 A 0 52500 0.00 A 73160 D Employee Stock Options 1.23 2020-06-25 4 A 0 84677 0.00 A 2021-06-25 2023-06-25 Common Stock 84677 84677 D The Company granted shares of restricted stock under the Company's 2020 Long-Term Incentive Compensation Plan. The shares vest in three equal annual installments beginning on the first anniversary of the date of grant. Stock options issued on June 25, 2020 vest in equal installments annually on June 25, 2021, June 25, 2022 and June 25, 2023 and upon satisfaction of stock price appreciation of 15%, 32.5% and 52.5%, respectably, using a 30 day average stock price from the stock price on the date of the grant. /s/Michael G. Silver 2020-06-29