Annual Report 2025

239 2025 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 22 Equity-settled share-based transactions (continued) (a) The terms and conditions of the grants are as follows: (continued) Vesting condition (iii): Percentage of options granted On or after 31 March 2024 50% On or after 31 March 2025 100% Vesting condition (iv): Percentage of options granted On or after 31 March 2024 30% On or after 31 March 2025 60% On or after 31 March 2026 100% (b) The number and weighted average exercise prices of share options are as follows: 2025 2024 Weighted average exercise price Number of share options Weighted average exercise price Number of share options ’000 ’000 Outstanding at the beginning of the year $12.55 21,115 $12.50 24,435 Exercised during the year $10.60 (282) – – Cancelled during the year $12.18 (1,790) $11.93 (2,490) Lapsed during the year $15.32 (8,125) $12.87 (830) Outstanding at the end of the year $10.60 10,918 $12.55 21,115 Exercisable at the end of the year $10.60 8,983 $13.62 13,658 The weighted average share price at the date of exercise for these shares options for the year was HK$11.06 (2024: not applicable). The options outstanding at 31 December 2025 had a weighted average exercise price of $10.60 (2024: $12.55) and weighted average remaining contractual lives of 2.3 years (2024: 2.3 years).