The principal share-based employee compensation plans are the PSP and LTIP. Awards of shares and American Depository Shares (ADSs) of the Company under the PSP and LTIP are granted upon certain conditions to eligible employees. The actual amount of shares that may vest ranges from 0% to 200% of the awards, depending on the outcomes of prescribed performance conditions over a three-year period beginning on January 1 of the award year. Shares and ADSs vest for nil consideration.
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Share awards under the PSP and LTIP |
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Number of A shares (million) |
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Number of B shares (million) |
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Number of A ADSs (million) |
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Weighted average remaining contractual life (years) |
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At January 1, 2017 |
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36 |
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12 |
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10 |
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1.0 |
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Granted |
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10 |
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4 |
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3 |
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Vested |
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(12 |
) |
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(4 |
) |
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(4 |
) |
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Forfeited |
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(1 |
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— |
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— |
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At December 31, 2017 |
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33 |
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12 |
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9 |
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0.9 |
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At January 1, 2016 |
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36 |
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12 |
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10 |
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1.0 |
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Granted |
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11 |
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4 |
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3 |
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Vested |
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(11 |
) |
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(4 |
) |
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(3 |
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At December 31, 2016 |
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36 |
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12 |
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10 |
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1.0 |
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