DIRECTORS' STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) DIRECTORS’ INTERESTS (CONTINUED) Holdings in the name of the Director, spouse or infant children 1 January 2024 or date of appointment 31 December 2024 Related Corporations Vertex Master Fund II (GP) Pte. Ltd. Limited Partner Interests in VMII Affiliates Fund LP for a commitment amount Teo Ming Kian US$200,000 US$200,000 Vertex Venture Holdings Ltd $250,000 denomination VVH Ltd 7-years 3.3% Bonds due 28 Jul 2028 Teo Ming Kian $250,000 $500,000 *1 Includes interest held in trust by a trustee company/nominee bank on behalf of the Director. #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 vested 499,460 shares upon partial achievement of targets set. The balance of the conditional award covering the period from 2021 to 2023 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 2023 to 31 December 2023. 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 2024 to 31 December 2024. 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 2025. 116 ST ENGINEERING | ANNUAL REPORT 2024
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