DIRECTORS’ REPORT (xi) Exercise price, grant date and vesting schedule Closing price Number of options Date of Grant Exercise price immediately preceding the date of grant Vesting Period At 1 January 2021 Grant during the year Exercised during the year Cancelled/ lapsed during the year At 31 December 2021 Management and employees 28 December 2020 HK$27.30 HK$27.10 One third of the options granted (vested on 28 December 2021, with the remaining to vest on 28 December 2022 and 28 December 2023) 6,650,000 — — — 6,650,000 23 August 2021 HK$24.50 HK$23.80 One third of the options granted (vested on the date of grant, with the remaining to vest on 23 August 2022 and 23 August 2023 respectively in equal shares) — 11,485,600 — — 11,485,600 6,650,000 11,485,600 — — 18,135,600 4. Long Term Incentive Scheme The following is a summary of the principal terms of the long term incentive scheme (the “Long Term Incentive Scheme”) adopted and approved by our Shareholders at an annual general meeting held on 2 June 2021 (the “Adoption Date”). The terms of the Long Term Incentive Scheme are not subject to the provisions of Chapter 17 of the Listing Rules. (i) Purpose The purpose of the Long Term Incentive Scheme is to attract skilled and experienced personnel, to incentivise them to remain with the Group and to motivate them to strive for the future development and expansion of the Group by providing them with the opportunity to acquire equity interests in the Company. R E A C H I N G N E W H E I G H T S 114
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