DIRECTORS' STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) Directors’ interests (continued) *1 Includes interest held in trust by a trustee company / nominee bank on behalf of the director. *2 Delisted from Singapore Exchange Securities Trading Limited (SGX-ST) Mainboard on 16 March 2022. *3 Listed on SGX-ST Mainboard on 16 March 2022. #1 A minimum threshold performance over a 3-year period is required for any performance shares to be released and the actual number of performance shares to be released is capped at 170% of the conditional award. #2 For this period, Vincent Chong Sy Feng was awarded 211,223 shares upon partial achievement of targets set. The balance of the conditional award covering the period from 2019 to 2021 has thus lapsed. #3 Balance of unvested restricted shares to be released according to the stipulated vesting periods. #4 This conditional award is subject to a performance target set over a one-year performance period from 1 January 2021 to 31 December 2021. If the performance target is attained, the restricted shares comprised in this conditional award will be released according to the stipulated vesting periods. The restricted shares will vest annually over four years, subject to the recipient’s continued employment with the Group and maintaining a satisfactory performance rating for the financial year preceding each tranche of vesting. #5 This conditional award is subject to a performance target set over a one-year performance period from 1 January 2022 to 31 December 2022. If the performance target is attained, the restricted shares comprised in this conditional award will be released according to the stipulated vesting periods. The restricted shares will vest annually over four years, subject to the recipient’s continued employment with the Group and maintaining a satisfactory performance rating for the financial year preceding each tranche of vesting. There was no change in any of above-mentioned Directors’ interest in the Company between the end of the financial year and 21 January 2023. Share Plans The Executive Resource and Compensation Committee (ERCC) is responsible for administering the ST Engineering Share Plans. The ERCC members are Kwa Chong Seng (Chairman), Lim Sim Seng, Lim Chin Hu and Teo Ming Kian. As of 31 December 2022, pursuant to the release of awards granted under the ST Engineering Share Plans, no participants have received 5% or more of the total number of shares available under the ST Engineering Share Plans. In relation to the ST Engineering Share Plans: • no share awards have been granted to controlling shareholders of the Company or their associates; • the persons to whom the share awards were granted have no right by virtue of these awards to participate in any share issue of any other company; • the disclosure requirements in Rule 852(1)(c) of the SGX-ST Listing Manual relating to the grant of options to directors and employees of the parent company and its subsidiaries is not applicable; and • the disclosure requirements in Rule 852(1)(d) of the SGX-ST Listing Manual relating to the grant of options at a discount is not applicable. CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 119
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