HSBC (00005) executives receive 1.12 million-share vesting; c.£5.38 million stock sold for tax after £14.00 million award unlock

Bulletin Express03-13 11:21

HSBC Holdings plc (00005) disclosed that eight members of its senior management team saw a combined 1.12 million ordinary shares vest on 10 March 2026 under previously granted Deferred Awards, Long-Term Incentive (LTI) plans and a Buy-out grant. Based on the 9 March closing price of £12.51, the aggregate notional value of the vested shares is approximately £14.00 million.

Key executive movements

1. Group Chief Executive Georges Elhedery • Vested: 201,593 shares (£2.52 million) • Shares sold to settle tax/withholding: 94,749 shares for £1.21 million (VWAP £12.80) • Lapsed LTI units: 182,631 shares

2. Group Chief Financial Officer Pam Kaur • Vested: 174,395 shares (£2.18 million) • Sold: 81,967 shares for £1.05 million • Lapsed LTI units: 113,855 shares

3. Other PDMRs (vested / sold, value of vested shares) • Stuart Riley (CIO): 254,677 / 119,699; £3.19 million • Michael Roberts (CEO, HSBC Bank plc & CIB): 157,665 / 80,489; £1.97 million • Barry O’Byrne (CEO, Int’l Wealth & Premier): 108,632 / 2,797; £1.36 million • David Liao (Co-CEO, Asia & ME): 86,615 / –; £1.08 million (92,162 LTI units lapsed) • Surendra Rosha (Co-CEO, Asia & ME): 67,862 / 10,859; £0.85 million (92,162 LTI units lapsed) • Richard Blackburn (GCRO): 33,756 / 15,866; £0.42 million • Suzanna White (COO): 34,077 / 15,348; £0.43 million

Aggregate disposal activity across 10–11 March totalled 421,774 shares, realising approximately £5.38 million at an average £12.80 per share.

In the latest LTI cycles: • 2022–24 plan vested at a 75 % performance outcome; 195,228 shares vested and 206,503 lapsed across six executives. • 2023–25 plan vested its first tranche at a 45.19 % outcome; 87,728 shares vested and 283,964 lapsed.

Retention conditions require several executives, including Mr Elhedery, Ms Kaur and Mr Rosha, to hold net-of-tax vested shares for 12 months, while Mr Riley’s buy-out tranche is subject to a six-month lock-up.

All transactions were executed on the London Stock Exchange at prices aligned to the 9 March close (£12.51) for valuation and a volume-weighted average disposal price of £12.80 on 10–11 March 2026.

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