LONDON - HSBC Holdings (NYSE:HSBC) PLC (LSE:HSBA) announced on Monday that it has granted conditional awards for employees to subscribe for shares under its share purchase plan. The awards involve the subscription of a total of 463,984.24608 ordinary shares, which were granted on Friday.
The shares under the awards are split between those listed on the London Stock Exchange (LON:LSEG) (LSE), totaling 228,301.84703 shares, and the Hong Kong Stock Exchange (HKSE), comprising 235,682.39905 shares. The closing market prices on the grant date were GBP 7.991 and HKD 76.50 for the LSE and HKSE listed shares, respectively. The awards were granted at a purchase price of GBP 0 and are set to vest in two years and nine months.
Notably, these grants do not include performance conditions or clawback provisions, reflecting the all-employee nature of the share purchase plan. The plan is subject to a cap, ensuring that the number of shares committed to be issued under all plan awards does not exceed 10% of the ordinary share capital of the company in issue before that day, when added to the shares issued or committed to be issued over the past decade under any employee share plan operated by HSBC.
The company stated that no financial assistance will be provided by the company or any subsidiary to the grantees for these awards. After this grant, the number of shares available for future awards under the plan mandate is 1,045,710,124.
This announcement, made pursuant to the rules governing the listing of securities on The Stock Exchange of Hong Kong Limited, underscores HSBC's commitment to employee participation in the company's growth. The information provided is based on a press release statement from HSBC Holdings PLC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.