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HONG KONG - Prudential (LON:PRU) plc, the life and health insurance and asset management company, announced on Monday that it has granted a share award to its Chief Executive Officer, Anil Wadhwani. The award, part of the company’s Long Term Incentive Plan (PLTIP) for 2023, involves 635,353 new ordinary shares and was made on Sunday.
The shares are subject to a three-year vesting period from the date of grant, with performance conditions aligned to Prudential’s strategic priorities. These conditions include metrics such as New Business Profit, Gross Operating Free Surplus Generation, Total (EPA:TTEF) Shareholder Return, and other financial and non-financial targets. The performance period for these conditions spans from January 1, 2025, to December 31, 2027.
A clawback mechanism is also in place, allowing Prudential to reclaim the shares under certain exceptional circumstances, such as material misstatements in financial results, gross misconduct by the participant, or significant reputational damage to the company.
The independent non-executive directors of Prudential have approved the award in accordance with Rule 17.04(1) of the Listing Rules of The Stock Exchange of Hong Kong Limited. As of the date of the announcement, the maximum number of shares available for future grants under the scheme mandate of the plan and other plans is 201,251,544.
Prudential plc operates in 24 markets across Asia and Africa, with primary listings on the Stock Exchange of Hong Kong and the London Stock Exchange (LON:LSEG). The company emphasizes its mission to be a trusted partner and protector by offering financial and health solutions that are simple and accessible.
This announcement is based on a press release statement and follows the regulatory requirements of the Stock Exchange of Hong Kong Limited.
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