The board of Yancoal Australia Ltd (HKEX: 03668) has announced the issuance of deferred performance shares to one of its senior executives. According to the company's vesting plan, a total of 104,250 deferred performance shares, linked to short-term assessment targets, were granted to Mr. Yue Ning, the company's Co-Deputy Chairman and an executive director.
This vesting action, completed on June 11, 2026, follows shareholder approval received at the Annual General Meeting held on May 28, 2026. The shares were issued to Mr. Yue at no cost as part of the Short-Term Assessment Vesting Plan.
The purpose of this plan is to reward eligible participants for achieving company business objectives aligned with financial, operational, and strategic priorities, as well as meeting personal performance goals. The vesting of these 104,250 shares will occur in two equal tranches over a two-year period.
The first tranche of 52,125 shares is scheduled to vest on March 1, 2027. The remaining 52,125 shares are set to vest on March 1, 2028. The final settlement method for these vested shares is at the discretion of the company's board.
The board holds the authority to settle the obligation arising from the vested shares either by issuing new ordinary shares or by making an equivalent cash payment. If settled entirely in fully paid ordinary shares, Mr. Yue Ning would be entitled to receive one share for each performance share vested.
As of the date of this announcement, the 104,250 shares subject to this vesting represent approximately 0.008% of the company's total issued share capital.
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