Summary by Moomoo AI
PERUVIAN PACIFIC ANNOUNCED ON 1 MARCH 2024 THAT IT WILL GRANT ELIGIBLE EMPLOYEES A MAXIMUM OF 13,142,297 PROHIBITED SHARES AND 12,440,762 RESTRICTED SHARES TO ELIGIBLE EMPLOYEES PURSUANT TO THE SHARE-BASED REMUNERATION PLAN ADOPTED ON 9 SEPTEMBER 2019 AND AMENDED ON 8 MAY 2023. The move was approved by shareholders at the Annual General Meeting on May 8, 2023, and updated the maximum number of new shares that may be issued to 1,324,339,700 shares. Mr. Yang, Executive Director and Chief Executive Officer, was granted 928,050 shares of elective shares and 1,276,069 units of restricted stock. Other employees are also awarded the corresponding number of shares and units based on their position. Elective shares have a non-sale period of three years, while restricted units have a three-year allotment period. The company emphasizes that the program is designed to attract and motivate employees and align with the interests of the company. The final number will be determined on or before 31 March 2024 and further announcements will be made.