KUALA LUMPUR (Sept 9): Maxis Bhd has offered a performance share grant involving 10.5 million ordinary shares in the telecommunications group for its eligible employees, under its long-term incentive plan (LTIP).

In a filing with the bourse, Maxis said the shares granted have a vesting period of 34 months or almost three years.

“Subject to the terms and conditions of the by-laws governing the LTIP, the eligible employees shall be entitled to receive new Maxis shares to be issued pursuant to the LTIP, upon meeting the vesting conditions as set out in the letter of offer for the LTIP.

“The vesting conditions comprise, amongst others, the performance targets for the period commencing Jan 1, 2021 and end of Dec 31, 2023, as stipulated by Maxis' remuneration committee. The Maxis shares under the offer shall vest on June 30, 2024, subject to meeting such performance targets,” said the group.

Maxis fell six sen or 1.3% to RM4.72, giving it a market capitalisation of RM36.94 billion.