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Clawback mechanism | : | The share options may be subject to the clawback policy of the Company enabling the Company to recover incentive-based compensation paid to covered executive officers in the event of mis-statement of the financial statements of the Company resulting from material non-compliance with financial reporting requirements. |
After the above grant of Share Options, the number of Share Options available for future grant under the scheme mandate of the Share Option Scheme is 11,409,825.
2. Performance-related LTIP Award (“Performance LTIP Award”) – award based on a maximum cash amount, which amount is determined by the achievement of performance targets for the financial years ending December 31, 2025, 2026 and 2027. The performance targets are determined by the Remuneration Committee of HUTCHMED based on the strategic objectives of HUTCHMED.
The shares, to be purchased by the trustee following determination of the cash amount based on actual achievement of performance targets, will then be held by the trustee until the related underlying LTIP Awards are vested. Vesting will occur three weeks after the date of completion of the share purchase for the awards for the financial year ending December 31, 2027. Vesting will also depend upon the continued employment of the award holder with the Group and will otherwise be at the discretion of the Board of Directors of HUTCHMED.
HUTCHMED granted the following Performance LTIP Awards to the following Executive Directors, each being a PDMR under the UK Market Abuse Regulation:
Award Holder | | Maximum amount for the Performance LTIP Awards |
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Dr Weiguo Su (Executive Director, Chief Executive Officer and Chief Scientific Officer) | | US$3,442,787 |
Mr Johnny Cheng (Executive Director and Chief Financial Officer) | | US$779,934 |
An additional 132 employees of the Group have simultaneously been granted Performance LTIP Awards.
The notification in respect of share options granted to Dr Su in accordance with the requirements of the UK Market Abuse Regulation is set out below.
Dr Weiguo Su
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1 | Details of the person discharging managerial responsibilities/person closely associated |
a) | Name | Dr Weiguo Su |
2 | Reason for the notification |
a) | Position/status | Executive Director, Chief Executive Officer and Chief Scientific Officer |
b) | Initial notification/Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) | Name | HUTCHMED (China) Limited |
b) | LEI | 2138006X34YDQ6OBYE79 |
