Yinson Annual Report 2022

312 YINSON HOLDINGS BERHAD ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2022 29. Share-based compensation plans (continued) (a) Employees’ Share Scheme (continued) For the financial year ended 31 January 2022, the weighted average share prices at the time of exercise of 887,000 (2021: 1,595,000) share options under the second offer of options on 30 March 2018 and 940,000 (2021: 1,247,000) share options under the third offer of options on 27 February 2019 were RM5.76 (2021: RM5.45) per share and RM5.69 (2021: RM5.59) respectively. (b) Employees’ Long-Term Incentive Plan On 26 June 2019, the Board of Directors of the Company approved an Employees’ Long-term Incentive Plan (“LTIP”). The LTIP is governed by the By-Laws of the ESS approved by the shareholders on 3 November 2015. Under the LTIP, either performance bonuses in cash or ordinary shares in the Company (“Yinson Shares”) are awarded to the eligible employees and executive director of the Group. On 25 March 2020, the terms and conditions of the LTIP were finalised and approved by the Board of Directors. On 3 August 2020, the LTIP was granted to the eligible employees and executive director of the Group. (a) The salient features of the LTIP are as follows: (i) The awards under the LTIP can be made through the Share Award Scheme (award of Yinson Shares) or Performance Bonus Scheme (bonus payout in cash). The Share Award Scheme component under the LTIP (which is under the ESS) shall expire on 2 November 2025. (ii) The maximum number of Yinson Shares to be allotted and issued for the Share Award Scheme and the maximum amount of performance bonuses to be paid under the Performance Bonus Scheme under the LTIP shall not be more than, in aggregate, 4.50% and 2.66% of the issued and paid-up ordinary share capital of the Company (excluding treasury shares) respectively, at any point in time during the duration of the LTIP. The total percentages of Yinson Shares and performance bonuses to be awarded as a proportion of the issued and paid-up ordinary share capital of the Company (excluding treasury shares) upon achievement of specific target points for daily share price (based on 1-month Volume Weighted Average Price (“VWAP”) are as follows: 1-month VWAP Target Percentage of Yinson Shares to be awarded as proportion of the issued and paid-up ordinary share capital of the Company Performance bonus to be awarded as proportion of the issued and paid-up ordinary share capital of the Company Tranche 1 RM 6.50 Up to 0.32% Up to 0.19% Tranche 2 RM 7.50 Up to 0.64% Up to 0.38% Tranche 3 RM 8.50 Up to 1.29% Up to 0.76% Tranche 4 RM 11.00 Up to 2.25% Up to 1.33% Total Up to 4.50% Up to 2.66% (iii) The total number of Yinson Shares to be awarded to an employee shall not be more than 10% of the Yinson Shares made available under the LTIP if the employee either singly or collectively through persons connected with the said employee, holds twenty percent (20%) or more of the Company’s issued and paid-up share capital (excluding treasury shares). (iv) The total number of Yinson Shares to be awarded to Mr. Lim Chern Wooi, being a person who singly or collectively through persons connected with them hold twenty percent (20%) or more of the issued and paid-up share capital (excluding treasury shares) of the Company, shall not exceed 10 percent (10%) of the issued and paid-up ordinary share capital of the Company (excluding treasury shares).

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