Annual Report 2025

173 2025 Annual Report Transport International Holdings Limited DIRECTORS’ REPORT Number of share option Outstanding as at 1 January 2025 Granted during the year Exercised during the year Cancelled during the year Lapsed during the year Outstanding as at 31 December 2025 Date granted Period during which options are exercisable Exercise price per share Market value per share at date of grant of options* Market value per share on exercise of options # Directors (Continued) TSANG Wai Hung 400,000 – – – (400,000) – 19 November 2020 19 November 2021 to 18 November 2025 (note 1) HK$15.32 HK$15.32 – 430,000 – – – – 430,000 31 March 2023 31 March 2024 to 30 March 2028 (note 3) HK$10.60 HK$10.60 – Employees 2,600,000 – – (600,000) (2,000,000) – 19 November 2020 19 November 2021 to 18 November 2025 (note 2) HK$15.32 HK$15.32 – 5,840,000 – (281,600) (1,190,000) – 4,368,400 31 March 2023 31 March 2024 to 30 March 2028 (note 4) HK$10.60 HK$10.60 HK$11.04 Total 21,115,000 – (281,600) (1,790,000) (8,125,000) 10,918,400 * being the closing price of the Company’s ordinary shares on the date of grant. # being the weighted average closing price of the Company’s ordinary shares immediately before the dates on which the options were exercised, as applicable. Note 1: All the options are vested and exercisable progressively and the maximum percentage of the options which may be exercised is determined in stages as follows: Percentage of options granted On or after 19 November 2021 50% On or after 19 November 2022 100% Note 2: All the options are vested and exercisable progressively and the maximum percentage of the options which may be exercised is determined in stages as follows: Percentage of options granted On or after 19 November 2021 30% On or after 19 November 2022 60% On or after 19 November 2023 100% Equity-linked agreement (continued) Share option scheme (the “Scheme”) (continued)