RSU Scheme definition
Examples of RSU Scheme in a sentence
The Executive shall be entitled to participate during the Term in the Amended and Restated 2013 Pre-IPO Option Scheme, Amended and Restated 2014 Pre-IPO Option Scheme and Amended and Restated Pre-IPO RSU Scheme of the Company, and any successors thereto, subject to the terms and provisions of such plans and the execution of the award agreements between the Company and the Executive.
As at the date of this announcement, there were outstanding Options granted under the Pre-IPO Share Option Scheme to subscribe for 2,440,000 Shares and outstanding RSUs granted under the Pre-IPO RSU Scheme and the Post-IPO RSU Scheme in respect of 53,081,950 Shares and 86,000,000 Shares, respectively.
As each of them is no longer intended to be bound by the Concert Party Agreement in order to facilitate the implementation of the 2017 Plan and the RSU Scheme, pursuant to the Supplemental Agreement, each of Wise Approach, Creative Pioneer and Sail Far will no longer be bound by the Concert Party Agreement or acting in concert with Mr. Ma and ▇▇.
Each of Wise Approach, Creative Pioneer and Sail Far is an employee incentive platform for the purpose of the 2017 Plan and the RSU Scheme and none of its beneficiaries are core connected persons of the Company.
This Settlement is established to facilitate the Company’s RSU Scheme (as defined below) to recognize and reward, through awards of Restricted Share Units (RSUs) which may eventually vest as shares in the Company, the contribution of the executives and employees of the Company and its subsidiaries (hereinafter referred to collectively as “the Group”) to the growth and development of the Group, thereby offering long-term incentives for their continued performance.
Each of Wise Approach, Creative Pioneer and Sail Far is an employee incentive platform pursuant to the 2017 Plan and the RSU Scheme.
The 2017 Participants are required to pay HK$0.01 per underlying Share for the grant of RSUs under the RSU Scheme, and HK$8.70 per underlying Share for the exercise of the RSUs upon satisfaction of terms and conditions set out in the relevant Grant Letter.
The Board announces that on February 3, 2018, RSUs representing 15,000,000 Shares were granted to the 2017 Participants under the RSU Scheme.
As the Company granted 734,812 RSUs, 169,200 PSUs, and potentially 126,900 additional PSUs (being the maximum additional number of PSUs which may be granted when the Average Annual EBITDA Growth reaches 20% or more) as set out in this announcement, the maximum number of new Shares that may underlie the RSUs to be granted pursuant to the RSU Scheme has been reduced to 19,432,683 Shares.
As set out in the Company’s announcement dated 8 December 2020, the maximum number of new Shares that may underlie the RSUs to be granted pursuant to the RSU Scheme is 20,463,595 Shares.