Summary by Futu AI
AIA announced on 19 March 2024 that it has granted 3,019,542 share options to its employees, directors and directors under its share option plan adopted on 29 May 2020 (as amended). The share option grants the grantor to receive cash in the Company's new ordinary shares or equivalents equal to the subscription price and the market price difference. The exercise price was HK$62.33 per share and the issued closing price of the shares was HK$57.40 per share on the day of issue. The vesting period for the share rights is 19 March 2024 to 18 March 2027 and the exercise period is 19 March 2027 to 18 March 2034. This grant of share rights is intended to encourage long-term development and create value for shareholders without setting performance targets. In the event of a material failure in the financial statements or other major performance criteria, the purchase option may be revoked or voided. The Company's Executive Director, Group Chief Executive Officer and President Li Yuanxiang was granted 808,729 share options and other eligible employees were granted 2,210,813 shares.