In recognition of the valuable contribution of employees in China Bank’s achievements and in celebration of the Bank’s 100th Anniversary, the Bank issued new shares from its authorized but unissued shares resulting from the Bank’s Centennial Stock Grant Plan, which was approved by the Board of Directors on 05 August 2020 and 02 September 2020, ratified by the stockholders in their special meeting on 01 October 2020, and approved by the relevant regulatory agencies.
5,388,400 common shares were issued to eligible grantees on 01 September 2021; 52,100 common shares on 22 September 2023; and 2,700 common shares on 22 November 2024 (the last tranche of issuance).
The Plan was terminated effective 16 December 2024, one (1) business day after the listing on the Philippine Stock Exchange of the last tranche on 13 December 2024, as all eligible grantees have been issued their corresponding shares and there are no additional eligible grantees to whom the Grant Shares may be issued.
This stock grant aims to foster a culture of ownership – where everyone in the organization share common interests, and the same passion and commitment to ensure the Bank’s continued success.
For more information, please refer to the related disclosures in the Bank’s website:
Stock Grant Reports
September 2021 - https://www.chinabank.ph/pdf/CHIB-Stock-Grant-Report-Secretary-Certification-as-of-September-30-2021.pdf
August 2021 - https://www.chinabank.ph/pdf/CHIB-Stock-Grant-Report-for-the-month-ended-August-31-2021.pdf
Centennial Stock Grant Plan
https://www.chinabank.ph/pdf/2020-08-05-CHIBPSEDisclosure-Centennial-Stock-Grant-Plan.pdf
Results of the Special Stockholders’ Meeting
https://www.chinabank.ph/pdf/2020-10-01-CHIBPSEDisclosure-CHIB-Results-of-the-Special-Stockholders-Meeting-October-01-2020.pdf