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LONDON - HSBC Holdings plc (LSE:HSBA)(HK:0005) granted conditional awards for 321,679 ordinary shares to employees under its International Employee Share Purchase Plan, according to a regulatory filing released Friday.
The banking giant issued the awards on October 9, with approximately half listed on the London Stock Exchange (161,206 shares) and half on the Hong Kong Stock Exchange (160,472 shares). The closing prices on the grant date were £10.086 in London and HK$104.00 in Hong Kong.
The awards, which have no purchase price requirement, will vest after a two-year period. According to the filing, these employee grants do not include performance conditions or clawback provisions due to the "all-employee nature of the Plan."
HSBC’s share plan operates under a limit that restricts awards to 10% of the company’s ordinary share capital in issue immediately before the grant date, when combined with shares issued or committed under the plan or other employee share plans in the previous decade. The company currently has 976,861,180 shares available for issuance under this limit.
The announcement was made in compliance with Hong Kong Stock Exchange listing rules requiring disclosure of share-based compensation grants.
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