HSBC Holdings PLC has announced a share option grant under its Savings-Related Share Option Plan (UK), awarding 7,867,865 ordinary shares to employees. The exercise price is set at £12.17 per share, below the £15.146 market price on the London Stock Exchange on the grant date of Tuesday, November 14, 2023.
The plan comprises two tranches: the first includes 6,525,297 shares with a three-year vesting period, exercisable from November 1, 2029, to April 30, 2030. The second tranche covers 1,342,568 shares with a five-year vesting period, exercisable from November 3, 2031, to April 30, 2032. Employees must exercise their options within six months of the vesting date.
The grant complies with Hong Kong Stock Exchange listing rules and caps issuance at 10% of HSBC’s ordinary share capital over the past decade, with a total available under the plan at 1,109,351,532 shares. Under current limits, 1,994,024,719 shares remain available, and the plan permits up to 4,675,000,000 shares in total. No performance conditions or clawback provisions apply due to UK tax legislation. HSBC will not provide financial assistance to recipients.
The announcement follows standard practice for share-based compensation, reflecting HSBC’s broader approach to employee incentives while adhering to regulatory and tax constraints.
