Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 455

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 455
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 immediately and 60% is deferred. Both immediate and deferred portions of the award are split evenly between cash and shares. The shares portion of the

award is subject to a retention period of one year and both the shares and the deferred cash portions of the award are subject to clawback provisions.

3 The annual incentive award for Georges Elhedery is awarded 50% in cash and 50% in shares. The shares portion of the award vests immediately at grant and is

subject to a retention period of one year and clawback provisions.

4 Deferred cash awards granted in prior years include a right to receive notional returns for the period between the grant and vesting date. This is determined by

reference to a rate of return specified at the time of grant and paid annually, with the amount disclosed on a paid basis.

5 LTI awards were made in February 2022 (in respect of 2021) at a share price of £ 5.380 for which the performance period ended on 31 December 2024. The value of

the awards has been computed based on a share price of £ 7.184 , the average share price during the three-month period to 31 December 2024. The value attributable

to share price appreciation for Sir Noel Quinn is £ 1,330,238 and for Georges Elhedery is £ 303,006 . The vesting LTI granted to Georges Elhedery was in respect of

2021 performance in his role as Co-CEO, GBM. See the following section for details of the performance assessment, which resulted in 75.00% vesting.

6 The value of the 2021-2023 LTI for Sir Noel Quinn has been restated based on a share price of £ 5.899 to reflect the value of the award on 12 March 2024, when the

first tranche of the award vested. In 2023, the value was based on the average share price during the three-month period to 31 December 2023 of £ 6.192 .

Benefits

The values of the significant benefits in the single total figure table are set out in the following table. The accommodation benefits in Hong Kong

and the car benefits for Georges Elhedery are not included in the table below as they were not deemed significant.

|                                              | Sir Noel Quinn |      | Georges Elhedery |      |
| (£000)                                       |           2024 | 2023 |             2024 |