Yancoal updates on 2022 long term incentive plan

Yancoal Australia (HKEX:3668) announced an update on its 2022 Long Term Incentive Plan (LTIP). Of the 2,483,667 performance share rights initially issued, 82%, or 1,500,266 rights, have vested to eligible participants. The vesting was determined by meeting 70% of the earnings per share condition and 100% of the cash cost condition. The vested rights will be settled through the transfer of existing ordinary shares, with participants receiving one share for each right. As of the announcement, 894,778 vested LTIP rights have been settled, 605,488 vested rights remain on issue, and 983,401 rights have been canceled, which includes 58,900 forfeited rights due to employee resignations. Participants have until September 25, 2032, to manually exercise their vested rights.