Summary by Futu AI
MSC announced on April 1, 2024 that it has granted a total of 8,737,798 units of restricted stock to 437 underwriters under the 2024 Share Award Scheme. Of these, Chairman and CEO Dr. Liu Junfeng were awarded 246,936, and Joint CEO Dr. Zhao Haijun and Dr. Leung Mengsong were awarded 227,029 each. In addition, three independent non-executive directors Liu Zunyi, Fan Renda, Liu Ming were granted 45,492 and 83,908 restricted shares, respectively. The remaining 431 contractors were awarded 7,861,912. The restricted share units issued represent Hong Kong shares that can be converted into an appropriate quantity on a specific vesting date. THE PURPOSE OF GRANTING RESTRICTED STOCK UNITS IS AS PART OF THE REMUNERATION TO MOTIVATE EMPLOYEES AND TO BE LINKED TO THE COMPANY'S PERFORMANCE GOALS. The restricted share units granted will entitle the underwriter to subscribe for a total of 8,737,798 shares of New Hong Kong shares, representing approximately 0.11% of the Company's issued shares. The award has been approved by the Remuneration Committee and complies with the purposes and conditions of the 2024 Share Award Scheme.