Summary by Futu AI
On March 20, 2024, NEC announced that it has granted a total of 20,871,490 restricted shares to 287 employees under the 2020 Share Incentive Scheme, representing new shares representing approximately 1.65% of the total issued shares of the Company. The awarding is designed to attract and retain talent and motivate employees to meet the company's five-year strategic goals for 2024 to 2028. Restricted shares will be divested in stages within one to five years from the date of grant, subject to completion of specific performance objectives. In addition, the HKEx has approved the listing and trading of the relevant new shares on 12 July 2022. The restricted share units granted are not subject to shareholder approval and no assignee is a director, chief executive officer or major shareholder of the company.