Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 488

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 488
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eration Committee The Group Remuneration Committee and its delegates considered various matters relating to the HSBC share plans during the financial year. The HSBC International Employee Share Purchase Plan (‘ShareMatch’) and The HSBC Holdings Savings-Related Share Option Plan (UK) (‘Sharesave’) were offered in 2024. The HSBC variable pay deferral approach for the 2024 performance year was approved, for which certain minor updates were made to comply with legal and regulatory requirements. The Directors Remuneration Policy was approved and will be available for shareholders to vote on at the 2025 AGM. Other awards with performance conditions were approved for certain strategically important projects during 2024. Certain awards were granted to executive Directors or senior managers with vesting periods of less than 12 months: – Fixed pay allowance awards were granted to executive Directors in accordance with the approved Directors’ remuneration policy, which vest immediately and are subject to a retention period. These awards are not subject to clawback on the basis that they form part of the executive Directors’ fixed pay. The awards were granted under the HSBC Share Plan 2011. – Immediate share awards were granted to executive Directors and senior managers in compliance with our regulatory requirements to deliver a portion of non-deferred variable pay in instruments. These awards vest immediately, and are subject to a retention period and clawback provisions.

| HSBC Holdings plcAnnual Report on Form 20-F | 349 |

Share capital and other related governance disclosures Share buy-bac ks On 1 November 2023, HSBC Holdings commenced a further share buy-back of its ordinary shares of up to a maximum consideration of $3.0bn. The share buy-back continued in 2024 and was concluded on 16 February 2024, with 64,733,089 ordinary shares repurchased for cancellation on UK trading venues and 79,414,800 ordinary shares repurchased for cancellation on The Stock Exchange of Hong Kong Limited (’HKEx’) from 1 January 2024 to 16 February 2024. On 23 February 2024, HSBC Holdings commenced a further share buy-back of its ordinary shares of up to a maximum consideration of $2.0bn. This share buy-back concluded on 23 April 2024 with 127,570,463 ordinary shares repurchased for cancellation on UK trading venues and 127,412,800 ordinary shares repurchased for cancellation on HKEx. On 8 May 2024, HSBC Holdings commenced