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                                    Directors%u2019 ReportESR Group Limited Annual Report 202493STRATEGIC REPORTSFINANCIAL STATEMENTSCORPORATE GOVERNANCE(xi)Exercise price, grant date and vesting scheduleNumber of options (Note 1)Exerciseprice (USD)Grant dateExercise PeriodVesting PeriodHeld at1 January2024Exercisedduring theyear(Note 2)Cancelledduring theyearHeld at31 December2024Management and employees (other than Directors) (Note 3)0.4722December201710 years from the grant dateVaries from 3 to 4 years and all vested100,020(100,020)0.9445December201710 years from the grant date4 years3,834,185(916,328)(79,407)2,838,4500.9445January 201810 years from the grant date4 years5,283,747(350,000)(87,348)4,846,3991.1453August 201810 years from the grant date4 years873,103873,1031.3655December201710 years from the grant date4 years948,494948,4941.5172December201710 years from the grant date4 years1,724,837(69,933)(201,977)1,452,9270.9445December201710 years from the grant dateVaries from 3 to 4 years and all vested108,519(71,250)(13,519)23,7501.5172December201710 years from the grant date4 years535,519535,51913,408,424(1,507,531)(382,251)11,518,642Notes:1No share options were granted or lapsed during the year ended 31 December 2024.2The weighted average closing price of the shares immediately before the dates on which the options were exercised was HK$11.14.3No share options under the KM ESOP were granted to the Directors or Co-CEOs.No further share options under the KM ESOP have been granted since the listing.As the KM ESOP was adopted prior to the Company%u2019s listing and its terms are not subject to the provisions of Chapter17oftheListingRules,pursuanttoRule17.02(1)(b)oftheListingRules,nooptionsorawardsmaybegranted under KM ESOP after the Company%u2019s listing.During the year ended 31 December 2024, since all options holders opted for net share settlement method in lieu of paying in full the exercise price for the number of shares over which the option was exercised, only a net total of 489,599 ordinary shares were issued by the Company for the year ended 31 December 2024 in satisfactionofthe1,507,531optionsexercised.TheshareswereissuedatnominalvalueofUS$0.001.
                                
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