Overseas Regulatory Announcement- Grant of Options

HSBC Holdings PLC

28 September 2023

 

The following is the text of an announcement released to the Stock Exchange of Hong Kong Limited on 28 September 2023 pursuant to rules 17.06A, 17.06B and 17.06C of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited:

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document.

28 September 2023

(Hong Kong Stock Code: 5)

HSBC HOLDINGS PLC

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rules 17.06A, 17.06B and 17.06C of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

On 27 September 2023, HSBC Holdings plc (the "Company") granted share options ("Options") to employees to subscribe for a total of 23,382,459 ordinary shares of US$0.50 each of the Company ("Shares") under the HSBC Holdings Savings-Related Share Option Plan (UK) (the "Plan"). The following are the details of the grant:

Exercise Price at which the Options were granted	Option Period	Number of shares under Options
GBP 4.697	3 years	19,903,840
	5 years	3,478,619
Total number of Options granted	23,382,459
Closing market price of the ordinary shares on the London Stock Exchange and on the date of grant	GBP 6.399
Vesting period of the Options	3 years, exercisable from 1 November 2026 to 30 April 2027
	5 years, exercisable from 1 November 2028 to 27 April 2029
Exercise period of the Options	No later than six months from the vesting date of the Options
Performance Targets and Clawback	Grants of Options under the Plan do not include performance conditions or clawback provisions due to the requirements of the UK tax legislation relevant to the Plan
Arrangements for  the Company or a subsidiary to provide financial assistance to the grantees	None
Number of shares available for future grant under the plan mandate	The Plan is subject to three limits on the number of Shares committed to be issued under Options: 1.   10% of the ordinary share capital of the Company in issue immediately before that day, when added to the number of Shares which have been issued, or committed to be issued, to satisfy Options under the Plan, or options or awards under any other employee share plan operated by the Company granted in the previous 10 years. The number of Shares available to issue under this limit is 973,756,809. 2.   2,036,512,211 (being 10% of the Shares in issue (excluding treasury shares) on the date of shareholder approval of the numerical limit under the Plan) Shares issued under the Plan as well Options currently outstanding that were granted after last shareholder approval. The number of Shares available to issue under this limit is 1,903,920,907. 3.   4,675,000,000 Shares may be allocated for subscription under the Plan and put under option (including all outstanding Options). The number of Shares available to use under this limit is 4,056,706,403.

There were no Options granted to any director of the Company. For and on behalf of

HSBC Holdings plc

Aileen Taylor

Group Company Secretary and Chief Governance Officer

The Board of Directors of HSBC Holdings plc as at the date of this announcement comprises: Mark Tucker^*, Noel Quinn, Geraldine Buckingham^†, Rachel Duan^†, Georges Elhedery, Carolyn Julie Fairbairn^†, James Anthony Forese^†, Ann Godbehere^†, Steven Guggenheimer^†, José Antonio Meade Kuribreña^†, Kalpana Morparia^†, Eileen K Murray^†, Brendan Nelson^† and David Nish^†.

*  Non-executive Group Chairman

†  Independent non-executive Director

HSBC Holdings plc

Registered Office and Group Head Office:

8 Canada Square, London E14 5HQ, United Kingdom Web: www.hsbc.com

Incorporated in England with limited liability. Registered in England: number 617987

 

END