For the years ended December 31, 2020, 2021 and 2022, we recognized total share-based compensation of RMB33.2 million, RMB90.8 million and RMB39.7 million, respectively, in the form of stock appreciation rights (“SARs”), restricted stock units (“RSUs”) and options awarded to our employees, and in the form of share awards as compensation to our Directors.
Summary · 第 13 页
The decrease in share-based compensation for our employees and Directors from 2021 to 2022 was mainly the result of (i) the cancellation of stock appreciation right awards of our executives in part and in full during the period, which resulted in a one-off reversal of the corresponding accumulated share-based compensation provided since its inception and (ii) the decrease in the number of RSUs granted and vested in 2022 compared to that in 2021.
(1) We operate share award schemes for the purpose of providing incentives and rewards to eligible participants who contribute to the success of our operations. Such share-based payments are non-cash in nature.
Summary · 第 15 页
Our employees (including our directors) receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments ("equity-settled transactions").
Financial Information · 第 375 页
The cost of equity-settled transactions is recognized in employee benefit expense, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled.