REG - Hutchmed China Ltd - Share Option Scheme and Long Term Incentive Plan

HUTCHMED (China)Announcement

14/09/2022 11:00

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RNS Number : 4231Z  Hutchmed (China) Limited  14 September 2022

Grant of Share Options under Share Option Scheme and Awards under Long Term Incentive Plan

 

Hong Kong, Shanghai, & Florham Park, NJ: Wednesday, September 14, 2022:
HUTCHMED (China) Limited ("HUTCHMED") (Nasdaq/AIM: HCM; HKEX: 13) announces
that on September 13, 2022, it granted share options under the Share Option
Scheme adopted by HUTCHMED in 2015 (the "Share Option Scheme") and conditional
awards ("LTIP Awards") under the Long Term Incentive Plan adopted by HUTCHMED
in 2015 ("LTIP").

 

Aimed at attracting and retaining top talent, the Remuneration Committee of
HUTCHMED appointed an independent advisor to conduct a compensation
benchmarking research on selected peer group companies. The Remuneration
Committee comprehensively reviewed the compensation and share-based incentives
policies of HUTCHMED and its subsidiaries (the "Group") and established an
attractive policy to ensure the Group is able to recruit and retain top
talent. Vesting of share-based awards under the policy is in line with that
peer group.

 

HUTCHMED granted share options under its Share Option Scheme to three
employees to subscribe for a total of 1,750,000 ordinary shares with par value
US$0.10 each in the share capital of the Company ("Ordinary Shares")
represented by 350,000 American Depositary Shares ("ADSs") (each equivalent to
five Ordinary Shares) subject to the acceptance of the grantee.  Details of
such share options granted are as follows:

 

 Date of grant                                                         :  September 13, 2022

 Exercise price of share options granted                               :  US$13.14 per ADS (equivalent to HK$20.50 per Ordinary Share at the conversion
                                                                          rate HK$7.8=US$1) (such exercise price has been determined by reference to the
                                                                          price of the Ordinary Shares on The Stock Exchange of Hong Kong Limited
                                                                          ("HKEX"))

 Number of share options granted                                       :  1,750,000 represented by 350,000 ADSs (five share options shall entitle the
                                                                          holder thereof to subscribe for one ADS)

 Closing market price of Ordinary Shares at HKEX on the date of grant  :  US$13.14 per ADS (equivalent to HK$20.50 per Ordinary Share at the conversion

                                                                        rate HK$7.8=US$1)

 Validity period of the share options                                  :  From September 13, 2022 to September 12, 2032

 Vesting period of the share options                                   :  The share options will vest at 25% on each of the first, second, third and
                                                                          fourth anniversaries of the date of grant of the share options.

 

At the same time, HUTCHMED also granted two employees of the Group with
non-performance based LTIP Awards and 135 employees of the Group with
performance-based LTIP Awards.

 

About HUTCHMED

HUTCHMED (Nasdaq/AIM: HCM; HKEX: 13) is an innovative, commercial-stage,
biopharmaceutical company. It is committed to the discovery and global
development and commercialization of targeted therapies and immunotherapies
for the treatment of cancer and immunological diseases. It has more than 4,900
personnel across all its companies, at the center of which is a team of about
1,800 in oncology/immunology. Since inception it has advanced 13 cancer drug
candidates from in-house discovery into clinical studies around the world,
with its first three oncology drugs now approved and marketed in China. For
more information, please visit: www.hutch-med.com (https://www.hutch-med.com/)
or follow us on LinkedIn
(https://www.linkedin.com/company/hutchmed/?_sm_au_=iHV0Ln4s3NP2Sn9Nq0378K6qLJCG3)
.

 

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of
the "safe harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. Forward-looking statements involve risks and uncertainties.
Existing and prospective investors are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date hereof.
For further discussion of these and other risks, see HUTCHMED's filings with
the U.S. Securities and Exchange Commission, on AIM and on HKEX. HUTCHMED
undertakes no obligation to update or revise the information contained in this
announcement, whether as a result of new information, future events or
circumstances or otherwise.

 

CONTACTS
 Investor Enquiries
 Mark Lee, Senior Vice President       +852 2121 8200
 Annie Cheng, Vice President           +1 (973) 567 3786

 Media Enquiries
 Americas - Brad Miles, Solebury       +1 (917) 570 7340 (Mobile) | bmiles@soleburystrat.com
                                       (mailto:bmiles@soleburystrat.com)
 Europe - Ben Atwell / Alex Shaw, FTI  +44 20 3727 1030 / +44 7771 913 902 (Mobile) /
                                       +44 7779 545 055 (Mobile) | HUTCHMED@fticonsulting.com
                                       (mailto:HUTCHMED@fticonsulting.com)
 Asia - Zhou Yi, Brunswick             +852 9783 6894 (Mobile) | HUTCHMED@brunswickgroup.com
                                       (mailto:HUTCHMED@brunswickgroup.com)

 Nominated Advisor
 Atholl Tweedie / Freddy Crossley,     +44 (20) 7886 2500

Panmure Gordon (UK) Limited

 

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