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People walk into the United Overseas Bank (UOB) building in the Raffles Place financial district in Singapore on August 10, 2023. (Photo by Roslan RAHMAN / AFP)
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UOB rewards non-executive directors with 30,400 shares as part of their remuneration

Mary Alavanza
By Mary Alavanza

SINGAPORE: According to a bourse filing, Singaporean bank UOB has granted 30,400 shares to its eligible non-executive directors as part of their remuneration for the fiscal year 2023.

The total share awards amount to 30,400, each priced at S$30.1733, resulting in a combined value of S$917,268.32.

Singapore Business Review reported that the recipients of these shares include Wong Kan Seng with 13,700 shares, followed by Steven Phan Swee Kim with 4,000 shares, Chia Tai Tee with 3,400 shares, Tracey Woon Kim Hong with 3,200 shares, Dinh Ba Thanh with 1,100 shares, and both Teo Lay Lim and Ong Chong Tee receiving 2,500 shares each.

This distribution of shares was part of the bank’s remuneration strategy for its directors. The decision was approved by shareholders during UOB’s annual general meeting held on April 18, 2024. /TISG

Read also: Swiftonomics boosted 35% UOB card billings; cardholders spent over S$30M on Eras Tour tickets

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