Street Calls of the Week
LONDON - Prudential plc (LSE:PRU) granted options over 14,412 new ordinary shares to eligible employees under its Prudential Sharesave Plan 2023, according to a regulatory announcement made Friday.
The options were granted on October 2 with an exercise price of £7.89 per share, representing at least 80% of the market value. The closing price of Prudential shares on the grant date was £10.20 per share.
Employees will be able to exercise these options during maturity periods of either December 1, 2028, to May 31, 2029, or December 1, 2030, to May 31, 2031, following vesting periods of three or five years from the grant date.
The Sharesave 2023 plan, which was approved at the company’s annual general meeting on May 25, 2023, is designed to promote share ownership among Prudential’s broader workforce. The plan does not include performance conditions or malus and clawback provisions, as the Remuneration Committee considers these inappropriate for this type of broad-based plan.
None of the option recipients is a director, chief executive, or substantial shareholder of Prudential, or an associate of any such persons, according to the company statement.
Prudential, which provides life and health insurance and asset management services across Asia and Africa, maintains dual primary listings on the London Stock Exchange and the Hong Kong Stock Exchange (HKEX:2378), with secondary listings in Singapore and New York.
As of the announcement date, Prudential has 200,577,148 shares available for future grants under its scheme mandate.
The information was disclosed in accordance with Hong Kong Stock Exchange listing rules.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.