YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 276 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 29. SHARE-BASED COMPENSATION PLANS (CONTINUED) (b) Employee’s Share Scheme 2023 (continued) Pursuant to the 2023 RSU Award, 6,528,771 RSUs were awarded to the Executive Directors and Senior Management, and 2,604,032 RSUs were awarded to all other eligible employees in the financial year ended 31 January 2024. There were no RSUs which vested or lapsed during the current financial year. (c) 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 an 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 At grant date* 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 2.77 Up to 0.32% Up to 0.19% Tranche 2 RM 3.20 Up to 0.64% Up to 0.38% Tranche 3 RM 3.69 Up to 1.29% Up to 0.76% Tranche 4 RM 4.69 Up to 2.25% Up to 1.33% Total Up to 4.50% Up to 2.66% * Adjusted following the Bonus Issue and Rights Issue.
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