On December 15, 2021 HUTCHMED (China) Limited ("HUTCHMED") (Nasdaq/AIM: HCM; HKEX: 13) reported that on December 14, 2021, it granted share options under the Share Option Scheme adopted by HUTCHMED in 2015 as refreshed in April 2020 (the "Share Option Scheme") and conditional awards ("LTIP Awards") under the Long Term Incentive Plan adopted by HUTCHMED in 2015 ("LTIP") (Press release, Hutchison China MediTech, DEC 15, 2021, View Source [SID1234597196]).

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Aimed at attracting and retaining top talent, the Remuneration Committee of HUTCHMED appointed an independent advisor to conduct a compensation benchmarking research on peer group U.S. and China biotech companies. The Remuneration Committee comprehensively reviewed the compensation and share-based incentives policies of HUTCHMED and its subsidiaries (the "Group") and established an attractive policy to ensure the Group is able to recruit and retain top talent. Vesting of share-based awards under the policy is in line with that peer group.

HUTCHMED granted share options under its Share Option Scheme to Dr Weiguo Su (Executive Director and Chief Scientific Officer of the Company) and 14 other employees to subscribe for a total of 808,940 Ordinary Shares represented by 161,788 American Depositary Shares ("ADSs") (each equating to five Ordinary Shares) subject to the acceptance of the grantee.

Details of such share options granted prescribed are as follows:

Date of grant :
December 14, 2021

Exercise price of share options granted :
US$35.21 per ADS (equivalent to HK$54.93 per Ordinary Share at the conversion rate HK$7.8=US$1) (such exercise price has been determined by reference to the price of the Ordinary Shares on The Stock Exchange of Hong Kong Limited ("HKEX"))

Number of share options granted :
808,940 represented by 161,788 ADSs (five share options shall entitle the holder thereof to subscribe for one ADS)

Closing market price of ordinary shares at HKEX on the date of grant

US$35.00 per ADS (equivalent to HK$54.60 per Ordinary Share at the conversion rate HK$7.8=US$1)

Validity period of the share options :
From December 14, 2021 to December 13, 2031

Vesting period of the share options : The share options will vest at 25% on each of the first, second, third and fourth anniversaries of the date of grant of share options.

Among the share options granted, 24,930 share options represented by 4,986 ADSs were granted to Dr Weiguo Su (Executive Director and Chief Scientific Officer of the Company), being a person discharging managerial responsibility under the UK Market Abuse Regulation.

At the same time, HUTCHMED also granted two employees of the Group with non-performance based LTIP Awards.

The notification set out below is provided in accordance with the requirements of the UK Market Abuse Regulation.

Dr Weiguo Su

1Details of the person discharging managerial responsibilities/person closely associated

a) Name

Dr Weiguo Su

2Reason for the notification

a) Position/status

Executive Director and Chief Scientific Officer

b) Initial notification/Amendment

Initial notification

3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

HUTCHMED (China) Limited

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

Description of the financial instrument, type of instrument

Identification code

Option over American Depositary Share (each equating to five Ordinary Shares of US$0.10)

Option over American Depositary Share with ADS ISIN: US44842L1035

Nature of the transaction

Grant of options in respect of 24,930 Ordinary Shares represented by 4,986 ADSs under the Share Option Scheme.

The share options granted are exercisable subject to a vesting schedule of 25% on each of the first, second, third and fourth anniversaries of the effective date of grant.

Price(s) and volume(s)

Price(s) Volume(s)
Nil 4,986

Aggregated information

— Aggregated volume
— Price

N/A

Date of the transaction

2021-12-14

Place of the transaction

Outside a trading venue