STRENGTH IN UNITY Directors’ Report 100 (xi) Exercise price, grant date and vesting schedule Number of options Date of grant Exercise price (HKD) Closing price immediately preceding the date of grant (HKD) Vesting period Exercise Period Held at 1 January 2023 Granted during the year Exercised during the year Cancelled during the year Lapsed during the year Held at 31 December 2023 Directors 8 June 2022 22.78 22.50 Vest in three equal tranches on each of 8 June 2022, 8 June 2023 and 8 June 2024 8 June 2022 to 7 June 2032 Mr Jinchu Shen 192,000 – – – – 192,000 Mr Stuart Gibson 192,000 – – – – 192,000 Subtotal 384,000 – – – – 384,000 Management (other than Directors) and employees 28 December 2020 27.30 27.10 Vest in three equal tranches on each of 28 December 2021, 28 December 2022 and 28 December 2023 28 December 2021 to 27 December 2030 6,650,000 – – – – 6,650,000 23 August 2021 24.50 23.80 Vest in three equal tranches on each of 23 August 2021, 23 August 2022 and 23 August 2023 23 August 2021 to 22 August 2031 11,432,200 – – (79,349) (158,651) 11,194,200 Subtotal 18,082,200 – – (79,349) (158,651) 17,844,200 Grand total 18,466,200 – – (79,349) (158,651) 18,228,200 During the year ended 31 December 2023, no options were granted. Save as disclosed above, no other share option schemes were entered into by the Company. 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 the Shareholders at an annual general meeting held on 2 June 2021 (the “Adoption Date”). (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. (ii) Who may join Those eligible to participate in the Long Term Incentive Scheme include employees, executive Directors and non-executive Directors (including independent non-executive Directors), agents or consultants of the Company or its Subsidiary who the Board considers, in its absolute discretion, have contributed or will contribute to the Group (“Participants”). Participants may receive, at the absolute discretion of the Board, Awards under the Long Term Incentive Scheme. Each Participant who accepts the offer of the grant of an award (“Award”, an award of RSUs and/or PSUs to be granted to a Participant under the Long Term Incentive Scheme (where a performance share unit (“PSU”), being a contingent right to receive a Share (or a Cash Payment) subject to certain terms and conditions (including performance-based vesting conditions) as set out in the Long Term Incentive Scheme and the relevant grant letter; a restricted share unit (“RSU”), being a contingent right to receive a Share (or a Cash Payment) subject to certain terms and conditions (including performance-based vesting conditions) as set out in the Long Term Incentive Scheme and the relevant grant letter) under the Long Term Incentive Scheme is a “Grantee”.
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