Budweiser APAC grants RSUs to employees and directors

Budweiser Brewing Company APAC Limited has granted 29,388,393 restricted stock units (RSUs) to eligible employees and directors on December 12, 2025, under its New Restricted Stock Units Plan. The RSUs, with a market price of HK$7.81 per share on the grant date and no purchase price, will vest between the third and fifth anniversaries of the grant date. This initiative aims to attract and retain skilled personnel, incentivize their commitment, and align their interests with the Group's growth.

Among the grantees, executive director and chief executive officer Yanjun Cheng received 1,584,046 RSUs. Independent non-executive directors Martin Cubbon, Marjorie Mun Tak Yang, and Katherine King-suen Tsang received 162,166, 129,941, and 129,941 RSUs respectively. Other connected grantees, including directors of certain subsidiaries, received 2,236,672 RSUs, while other non-connected grantees (employees of the company) received 25,145,627 RSUs.

The vesting of RSUs is conditional on objective performance conditions determined by the board, based on financial and non-financial metrics. The plan includes a malus adjustment provision for accountability, where grants lapse if a grantee commits a violation of law or the company's Code of Business Conduct, making a separate clawback mechanism unnecessary. The grants were approved by independent non-executive directors and the remuneration committee.