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LONDON - HSBC Holdings plc (NYSE:HSBC) (LSE:HSBA) (HKSE:0005) granted conditional awards to employees to subscribe for 363,664 ordinary shares under its International Employee Share Purchase Plan, according to a regulatory announcement made Thursday.
The awards, granted on Wednesday, include approximately 184,259 London Stock Exchange-listed shares and 179,404 Hong Kong Stock Exchange-listed shares. The closing market prices on the grant date were £9.061 in London and HK$96.70 in Hong Kong.
These employee share awards have a vesting period of two years and three months. The company stated that the awards do not include performance conditions or clawback provisions due to the all-employee nature of the plan.
The plan operates under a limit that restricts the number of shares that can be issued to 10% of the company’s ordinary share capital in issue immediately before the grant day, when combined with shares issued or committed under the plan or other employee share plans in the previous 10 years. HSBC noted that 1,004,369,032 shares remain available for issuance under this limit.
No financial assistance will be provided by HSBC or its subsidiaries to the grantees in connection with these awards, according to the press release statement.
The announcement was made in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
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