ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 239 INTEGRATED ANNUAL REPORT 2026 30. SHARE-BASED COMPENSATION PLANS (CONTINUED) (c) Employees’ Long-Term Incentive Plan (continued) (iv) At the end of each vesting period, the eligible LTIP participants will receive a cash payment based on the number of vested RSUs in Lieu of LTIP and the closing share price of a Yinson Share determined based on the 5-day VWAP at each vesting date. (v) The fair value per unit of RSUs in lieu of LTIP is determined based on the 5-day volume VWAP of a Yinson Share at each reporting and vesting date, which was RM2.43 for the 2020 RSUs as at the first vesting date on 31 December 2023, RM2.35 for the 2021 RSUs as at the second vesting date on 1 June 2024 and RM1.99 for the 2022 RSUs as at the third vesting date on 1 June 2025. (vi) The movements of RSUs in lieu of LTIP for the financial years ended 31 January 2026 and 31 January 2025 were as follows: At start of the financial year Vested/ Settled At end of the financial year 2026 2022 RSU in Lieu of LTIP 4,780,326 (4,780,326) - 2025 2021 RSU in Lieu of LTIP 3,980,736 (3,980,736) - 2022 RSU in Lieu of LTIP 5,012,193 (231,867) 4,780,326 8,992,929 (4,212,603) 4,780,326 For the financial years ended 31 January 2026 and 2025, cash payments of RM10 million and RM10 million respectively were made to eligible LTIP participants in settlement of RSUs in lieu of LTIP. The RM10 million paid in financial year ended 31 January 2026 relates to the full settlement of the 2022 RSU in lieu of LTIP. The RM10 million paid in financial year ended 31 January 2025 relates to the full settlement of the 2021 RSU in lieu of LTIP and early settlement of certain of the 2022 RSU in lieu of LTIP. (d) Expenses arising from share-based payment transactions Total expenses arising from share-based payment transactions recognised during the current financial year as part of employee benefits expenses were as follows: Group Company 2026 RM million 2025 RM million 2026 RM million 2025 RM million RSUs for Executive Directors and Senior Management (Note 30(b)) 11 5 11 5 Equity-settled share-based payment expenses 11 5 11 5 Performance Bonus Scheme under LTIP (Note 30(c)) (2) (4) (2) (4) RSUs for other eligible employees (Note 30(b)) 5 2 5 2 Total share-based payment expenses 14 3 14 3 Included in the Performance Bonus Scheme under the LTIP is a reversal of RM2 million (2025: reversal of RM4 million) relating to the vesting and cash settlement of the 2022 RSU in Lieu of LTIP (2025: 2021 RSU in Lieu of LTIP).
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