Annual Report 2023

176 2023 Annual Report Transport International Holdings Limited Directors’ Report No. of options outstanding at 1 January 2023 No. of shares granted during the year No. of shares forfeited during the year No. of options outstanding at 31 December 2023 Date granted Period during which options are exercisable Exercise price per share Market value per share at date of grant of options* Directors (continued) TSANG Wai Hung 400,000 – – 400,000 19 November 2020 19 November 2021 to 18 November 2025 (note 1) HK$15.32 HK$15.32 – 430,000 – 430,000 31 March 2023 31 March 2024 to 30 March 2028 (note 3) HK$10.60 HK$10.60 Employees 3,900,000 – (600,000) 3,300,000 19 November 2020 19 November 2021 to 18 November 2025 (note 2) HK$15.32 HK$15.32 – 8,990,000 (1,360,000) 7,630,000 31 March 2023 31 March 2024 to 30 March 2028 (note 4) HK$10.60 HK$10.60 * being the weighted average closing price of the Company’s ordinary shares on the date of grant. Note 1: All the options are vested and exercisable progressively and the maximum percentage of the options which may be exercised is determined in stages as follows: Percentage of options granted On or after 19 November 2021 50% On or after 19 November 2022 100% Note 2: All the options are vested and exercisable progressively and the maximum percentage of the options which may be exercised is determined in stages as follows: Percentage of options granted On or after 19 November 2021 30% On or after 19 November 2022 60% On or after 19 November 2023 100% Note 3: All the options are vested and exercisable progressively and the maximum percentage of the options which may be exercised is determined in stages as follows: Percentage of options granted On or after 31 March 2024 50% On or after 31 March 2025 100% Note 4: All the options are vested and exercisable progressively and the maximum percentage of the options which may be exercised is determined in stages as follows: Percentage of options granted On or after 31 March 2024 30% On or after 31 March 2025 60% On or after 31 March 2026 100% Equity-linked agreement (continued) Share option scheme (continued)