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HUTCHMED (China) Limited announced the vesting of non-performance based awards under its Long Term Incentive Plan for six directors on April 20, 2024, at a price of Nil. These awards, originally granted on April 20, 2020, included American depositary shares (ADSs) for Mr Simon To (2,397), Dr Dan Eldar (2,397), Ms Edith Shih (2,397), Mr Paul Carter (2,038), Mr Graeme Jack (2,397), and Professor Tony Mok (2,397). The ADSs for Mr To and Ms Shih were received by their employers, and Mr Carter had 15% (US$7,500) of his vested award held as cash for tax liabilities.
| Date | 22 Apr 2024 |
| Time | 09:30:01 |
| Category | Director/PDMR dealings |
| ID | 3782L |
Hong Kong, Shanghai & Florham Park, NJ - Monday, April 22, 2024: HUTCHMED (China) Limited ("HUTCHMED") (Nasdaq/AIM: HCM; SEHK:13) announces that the non-performance based awards granted under the Long Term Incentive Plan ("LTIP") on April 20, 2020 to the following persons discharging managerial responsibilities were vested on April 20, 2024:
|
Award Holder |
|
Number of American depositary shares ("ADS") |
|
|
|
|
|
Mr Simon To (Executive Director) |
|
2,3971 |
|
Dr Dan Eldar (Non-executive Director ("NED")) |
|
2,397 |
|
Ms Edith Shih (NED) |
|
2,3972 |
|
Mr Paul Carter (Independent Non-executive Director ("INED")) |
|
2,0383 |
|
Mr Graeme Jack (INED) |
|
2,397 |
|
Professor Tony Mok (INED) |
|
2,397 |
Notes:
(1) Similar to the arrangement for his Director's fees, these ADSs were not received by Mr Simon To, but were received by or for the account of his employer, Hutchison Whampoa (China) Limited.
(2) These ADSs were not received by Ms Edith Shih, but were received by or for the account of her employer, Hutchison International Limited.
(3) Mr Paul Carter elected, on acceptance of the grant of his awards, to have 15% of his LTIP awards (amounting to US$7,500 with respect to his awards which vested on April 20, 2024) held on his behalf by the trustee administering the LTIP pending vesting in the form of cash, to settle his tax liabilities in respect of his awards.
The notifications set out below are provided in accordance with the requirements of the UK Market Abuse Regulation.
(a) Dr Dan Eldar
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Dr Dan Eldar
|
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Non-Executive Director
|
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|
b) |
Initial notification/Amendment
|
Initial notification
|
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name
|
HUTCHMED (China) Limited |
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|
b)
|
LEI |
2138006X34YDQ6OBYE79 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
ADS each representing five Ordinary Shares of US$0.10
ADS ISIN: US44842L1035 |
||||
|
b) |
Nature of the transaction
|
Vesting of awards granted on April 20, 2020 under HUTCHMED's LTIP
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information
|
N/A |
||||
|
e) |
Date of the transaction |
2024-04-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue
|
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(b) Mr Paul Carter
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
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|
a) |
Name |
Mr Paul Carter
|
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Independent Non-Executive Director
|
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|
b) |
Initial notification/Amendment
|
Initial notification
|
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name
|
HUTCHMED (China) Limited |
||||
|
b)
|
LEI |
2138006X34YDQ6OBYE79 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
ADS each representing five Ordinary Shares of US$0.10
ADS ISIN: US44842L1035 |
||||
|
b) |
Nature of the transaction
|
Vesting of awards granted on April 20, 2020 under HUTCHMED's LTIP
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information
|
N/A |
||||
|
e) |
Date of the transaction |
2024-04-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue
|
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(c) Mr Graeme Jack
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Mr Graeme Jack
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Independent Non-Executive Director
|
||||
|
b) |
Initial notification/Amendment
|
Initial notification
|
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name
|
HUTCHMED (China) Limited |
||||
|
b)
|
LEI |
2138006X34YDQ6OBYE79 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
ADS each representing five Ordinary Shares of US$0.10
ADS ISIN: US44842L1035 |
||||
|
b) |
Nature of the transaction
|
Vesting of awards granted on April 20, 2020 under HUTCHMED's LTIP
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information
|
N/A |
||||
|
e) |
Date of the transaction |
2024-04-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue
|
||||
(d) Professor Tony Mok
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Professor Tony Mok
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Independent Non-Executive Director
|
||||
|
b) |
Initial notification/Amendment
|
Initial notification
|
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name
|
HUTCHMED (China) Limited |
||||
|
b)
|
LEI |
2138006X34YDQ6OBYE79 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
ADS each representing five Ordinary Shares of US$0.10
ADS ISIN: US44842L1035 |
||||
|
b) |
Nature of the transaction
|
Vesting of awards granted on April 20, 2020 under HUTCHMED's LTIP
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information
|
N/A |
||||
|
e) |
Date of the transaction |
2024-04-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue
|
||||
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 approximately 5,000 personnel across all its companies, at the center of which is a team of about 1,800 in oncology/immunology. Since inception it has focused on bringing cancer drug candidates from in-house discovery to patients around the world, with its first three medicines marketed in China, the first of which is also marketed in the U.S. For more information, please visit: www.hutch-med.com or follow us on LinkedIn.
Investor Enquiries |
+852 2121 8200 / +1 973 306 4490 / ir@hutch-med.com |
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Media Enquiries |
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Ben Atwell / Alex Shaw, FTI Consulting |
+44 20 3727 1030 / +44 7771 913 902 (Mobile) / +44 7779 545 055 (Mobile) HUTCHMED@fticonsulting.com |
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Zhou Yi, Brunswick |
+852 9783 6894 (Mobile) / HUTCHMED@brunswickgroup.com |
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Nominated Advisor |
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Atholl Tweedie / Freddy Crossley / Daphne Zhang, |
+44 (20) 7886 2500 |