FORWARD TOGETHER Directors’ Report 108 Number of shares Date of grant Connected/ non-connected Name/position Closing price immediately preceding the date of grant Vesting Period At 1 January 2022 Granted during the year Note (5) Vested during the year Lapsed/ cancelled during the year At 31 December 2022 PSUs Notes (5)(8) 8 June 2022 Directors Connected Grantee Mr Jinchu Shen 22.5 Note (3) — 979,500 — — 979,500 Connected Grantee Mr Stuart Gibson 22.5 Note (3) — 979,500 — — 979,500 — 1,959,000 — — 1,959,000 23 February 2022 Connected Grantee Certain directors of subsidiaries of the Company 25 Note (2) — 839,400 — — 839,400 23 February 2022 Non-connected Grantee Employees of the Group who are not directors or chief executive of the Group 25 Note (2) — 3,285,300 — (89,700) 3,195,600 — 4,124,700 — (89,700) 4,035,000 — 6,083,700 — (89,700) 5,994,000 RSUs Notes (5)(8) 23 February 2022 Connected Grantee Certain directors of subsidiaries of the Company 25 Notes (1)(7) — 386,800 (257,867) — 128,933 23 February 2022 Non-connected Grantee Employees of the Group who are not directors or chief executive of the Group 25 Notes (1)(6) — 309,400 (206,267) — 103,133 — 696,200 (464,134) — 232,066 8 June 2022 Connected Grantee Certain directors of subsidiaries of the Company 22.5 Notes (4)(7) — 2,039,500 (129,833) — 1,909,667 8 June 2022 Non-connected Grantee Employees of the Group who are not directors or chief executive of the Group 22.5 Note (4) — 5,586,600 — — 5,586,600 — 7,626,100 (129,833) — 7,496,267 — 8,322,300 (593,967) — 7,728,333 — 14,406,000 (593,967) (89,700) 13,722,333 Notes: (1) Subject to the vesting conditions being met, the RSUs will vest between the Date of Grant to 1 April 2023. In respect of the 386,800 Shares underlying RSUs to be granted to the Connected Grantees, the trustee shall make on-market purchase of the relevant Shares to satisfy the portion of RSUs that have been vested promptly following the public disclosure of the Company’s announcement of final results for the year ended 2021. (2) In respect of the PSUs, the PSUs granted will vest in favour of the relevant Participants in three equal tranches over a period of three years commencing from 1 April 2023 based on fulfillment of relevant performance conditions over a two-year period commencing from 1 January 2021 to 31 December 2022 (both dates inclusive). (3) The PSUs granted will vest in favour of the relevant participants in three equal tranches over a period of three years commencing from 1 April 2023 based on fulfilment of relevant performance conditions over a two year period commencing from 1 January 2021 to 31 December 2022 (both dates inclusive). As disclosed in the Company’s annual general meeting circular dated 29 April 2022, the Company would seek to motivate and reward eligible participants in the Long Term Incentive Scheme for optimising their performance in areas including, but not limited to, total shareholder returns, total assets under management and making contributions to the Group. (4) In respect of the aggregate of 7,626,100 RSUs granted to the relevant participants, subject to the vesting conditions being met: (i) 389,500 of the RSUs granted to Connected Grantees and 311,600 of the RSUs granted to Non-connected Grantees will vest in three equal tranches on the Date of Grant, 8 June 2023 and 8 June 2024; and (ii) 1,650,000 of the RSUs granted to Connected Grantees and 5,275,000 of the RSUs granted to Non-connected Grantees will vest in four equal tranches on 8 June of each of 2023, 2024, 2025 and 2026. (5) Please refer to note 42 to the Consolidated Financial Statements for the fair value of awards at the date of grant and the accounting standard and policy adopted. (6) The weighted average closing price of the shares immediately before the dates on which the awards vested is HK$23.95 per share. (7) The average purchase price of the shares on which the awards vested is HK$23.28 per share . (8) The purchase price for the shares underlying the PSUs/RSUs is nil. There were no awards granted to service provider or any participants in excess of the 1% individual limit during the year.
RkJQdWJsaXNoZXIy MTIwODcxMw==