239 INTEGRATED ANNUAL REPORT 2025 ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 30. SHARE-BASED COMPENSATION PLANS (CONTINUED) (b) Employees’ Share Scheme 2023 (continued) (iii) The total number of Yinson Shares to be awarded to any individual person who, either singly or collectively through persons connected with them holds twenty percent (20%) or more of the issued and paid-up share capital (excluding treasury shares), shall not exceed ten percent (10%) of the maximum shares available under ESS2023. (iv) The RSUs of the 2023 RSU Award and the 2024 RSU Award will vest at the end of a 3-year period on 30 November 2026 and 30 September 2027 respectively. (v) An employee must remain in employment and shall not have served a notice of resignation or received a notice of termination during the vesting period of 3 years from the date of grant. (vi) At the vesting date, the Company will settle the RSUs by issuing the number of Yinson Shares equal to the number of vested RSUs or making an equivalent cash payment based on the closing price of a Yinson Share on the vesting date. (vii) The fair value of RSUs at grant date is determined based on the 5-day volume weighted average market price (“VWAP”) of the Yinson Shares to be vested, taking into account the terms and conditions upon which the RSUs are to be granted, and on the basis that the maximum number of shares available under the 2023 RSU Award and the 2024 RSU Award will be allotted and issued to the Executive Directors and Senior Management. At the grant date of 1 December 2023 for the 2023 RSU Award and 1 October 2024 for the 2024 RSU Award, the fair values of the RSUs were RM2.43 and RM2.86, respectively. Pursuant to the 2023 RSU Award, 6,528,771 RSUs were awarded to the Executive Directors and Senior Management, and 2,604,032 RSUs were awarded to all other eligible employees in the financial year ended 31 January 2024. Similarly, under the 2024 RSU Award, 2,829,635 RSUs were awarded to the Executive Directors and Senior Management, and 2,571,624 RSUs were awarded to all other eligible employees in the financial year ended 31 January 2025. The movement of RSUs for the financial year ended 31 January 2025 was as follows: 2023 RSU Award At start of the financial year Settled At end of the financial year Executive Directors and Senior Management 6,528,771 (388,408) 6,140,363 Other eligible employees 2,604,032 - 2,604,032 9,132,803 (388,408) 8,744,395 2024 RSU Award At start of the financial year Granted Lapsed At end of the financial year Executive Directors and Senior Management - 2,829,635 - 2,829,635 Other eligible employees - 2,571,624 (16,876) 2,554,748 - 5,401,259 (16,876) 5,384,383
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