Share Incentive Plan - A total of 1,588,000 reward shares were granted under the incentive plan, with 474,000 shares canceled and 190,000 shares expired during the year[6]. - The company has a reward plan that has been effective since May 31, 2017, and will continue for ten years unless terminated early by the board[2]. - The company granted 750,000 reward shares on June 6, 2022, with a vesting period from June 30, 2023, to June 30, 2025[22]. - The total number of reward shares granted during the year was 750,000, with no purchase price required from employees[23]. - The revised listing rules regarding share plans came into effect on January 1, 2023, allowing the company to continue granting rewards under the existing plan until it is updated or expires[24]. Vesting and Compensation - The total number of unvested reward shares as of December 31, 2022, was 450,000, down from 1,170,000 at the beginning of the year[6]. - The company believes the current vesting period of approximately 12 months aligns with the objectives of the incentive plan[25]. - The company maintains flexibility in determining the vesting schedule for reward shares, which can be vested in annual installments over three to five years[16]. - The reward shares are primarily time-based for vesting criteria rather than performance-based, promoting retention and rewarding past contributions[26]. - The compensation committee approved the granting of restricted reward shares to executive directors and senior management to incentivize and retain key employees[14]. Strategic Objectives - The company aims to provide an equity-based compensation source through its reward plan, incentivizing employees for their contributions to operational success[26]. - The board believes that offering various compensation schemes will enhance flexibility in attracting and retaining talent, aligning with the objectives of the reward plan[26]. - The weighted average closing price of the company's ordinary shares on the day before the grant date was HKD 2.65, compared to HKD 2.74 on December 31, 2021[13].
科联系统(00046) - 2023 - 年度财报