NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 359 OUR SUSTAINABILITY APPROACH HOW WE ARE GOVERNED FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION ADDITIONAL INFORMATION 55. EQUITY COMPENSATION BENEFITS (CONT’D.) Kenanga Group’s Employees’ Share Scheme (cont’d.) (2) ESGP Key features of the RSP and PSP awards are as follow: (a) RSP The RSP is a restricted share incentive plan, in recognition of the loyalty and individual contributions of the eligible employees towards the development, growth and success of the Group. The vesting conditions are stipulated and determined by the ESS Committee, which may include, amongst others, the achievement of individual performance as measured by both qualitative and quantitative key performance indicators (“KPIs”), during such period as stipulated in the ESGP award. (b) PSP The PSP is a performance share plan in recognition of the contribution of the eligible employees as drivers of the growth and performance of the Group. The PSP is intended to promote the alignment in the strategic achievements of the Group with that of the eligible employees to drive the creation of shareholders’ value and the growth of long term financial performance of the Group. The vesting conditions are stipulated and determined by the ESS Committee, which may include, amongst others, the achievement of relevant service objectives and specific performance targets as measured by both qualitative and quantitative KPIs, during such period as stipulated in the ESGP award. On 2 January 2018, 3,612,735 units of share grant were allocated under PSP and on 3 May 2021, 3,610,000 units of shares were awarded to eligible Senior Management of the Group and of the Bank. Details of share options awarded under PSP: Award date Number of PSP share awarded Vesting date 03.05.2021 3,610,000 02.06.2021 PSP Grantee is restricted from selling or transferring the shares issued to him or her for a period of one year from the award date.
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