Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 482

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 482
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 any annual incentive award in respect of the 2025 performance year. In accordance with the contractual terms

| 342 | HSBC Holdings plcAnnual Report on Form 20-F |

Report of the Directors | Corporate governance report | Directors’ remuneration report

agreed and our approved Directors’ remuneration policy, Sir Noel Quinn was granted good leaver status in respect of his outstanding unvested share awards. Good leaver status is conditional upon him not taking up a role with a defined list of competitor financial services firms for a year from his departure date. As a good leaver, his deferred share awards will continue to vest and be released on their scheduled vesting dates, subject to the relevant terms (including post- vesting retention periods, malus and, where applicable, clawback). Any vesting of his LTI awards will be pro-rated for the period up to the departure date and will be subject to the relevant terms (including post-vesting retention periods, malus and clawback) and the achievement of the required performance conditions. For this purpose, his 2022 and 2023 LTI awards have been pro-rated for time with the maximum number of shares, being 669,995 and 433,268 respectively, still subject to performance. Sir Noel Quinn will be eligible to receive certain post-departure benefits for a period of up to seven years after the departure date. Sir Noel Quinn will receive no other compensation or payment for the termination of his service agreement or his ceasing to be a Director of the Group. Directors’ emoluments The details of compensation paid to executive and non-executive Directors for the year ended 31 December 2024 are set out below:

| Emoluments                                              |                |        |                  |       |                          |       |
|                                                         | Sir Noel Quinn |        | Georges Elhedery |       | Non-executive Directors1 |       |
|                                                         |           2024 |   2023 |             2024 |  2023 |                     2024 |  2023 |
|                                                         |           £000 |   £000 |             £000 |  £000 |                     £000 |  £000 |
| Directors' base salary, allowances and benefits in kind |          2,270 |  3,386 |            2,473 | 1,999 |                          |       |
| Non-executive Directors' fees and benefits in kind      |                |        |                  |       |