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LONDON - HSBC Holdings plc (LSE:HSBA) granted share options to employees to subscribe for 11,900,815 ordinary shares under its Savings-Related Share Option Plan, according to a regulatory announcement released Thursday.
The bank issued the options on September 24, with an exercise price of £7.611 per share. The grant includes 8,624,318 options with a three-year option period and 3,276,497 options with a five-year period.
The three-year options will vest on November 1, 2028, and remain exercisable until April 30, 2029, while the five-year options will vest on November 1, 2030, and can be exercised until April 30, 2031.
The closing price of HSBC’s ordinary shares on the London Stock Exchange on the grant date was £10.372.
According to the announcement, the options do not include performance conditions or clawback provisions due to UK tax legislation requirements relevant to the plan. No financial assistance will be provided to grantees by the company or its subsidiaries.
HSBC noted that the plan remains within its established limits for share issuance. After this grant, the bank still has 990,097,349 shares available under its 10% ordinary share capital limit, 1,961,176,885 shares under its shareholder-approved numerical limit, and 4,116,641,441 shares under the plan’s total allocation limit.
No options were granted to any directors of the company, according to the statement based on the regulatory announcement.
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