Nexteer Automotive (HKG:1316) said it granted 5 million cash-settled awards to senior management under its value creation plan, according to an April 10 Hong Kong bourse filing.
Shares of the automotive parts maker were down nearly 2% in Monday morning trade.
The awards, comprising performance and restricted units, have a total cash value of $4 million and will vest on Dec. 31, 2028, subject to performance and service conditions.
The awards will not vest if the company's three-year average return on invested capital is below 4.5%, the filing said.
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