UOB has awarded its chairman, Wong Kan Seng, over S$400,000 in shares, the bank said in a bourse filing on Wednesday (May 8),

It was part of a total of 30,400 shares granted to seven eligible non-executive directors under the Share Plan.

All the share awards vested on the date of the grant, May 6, with a closing market price of S$30.56.

Wong received 13,700 shares, worth S$418,672.

SPH Media chief executive officer Teo Lay Lim, an independent director of UOB, received 2,500 shares.

These awards form part of the directors’ remuneration for 2023, and were approved by shareholders at the bank’s annual general meeting held on Apr 18.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Wong was appointed to the board of UOB in July 2017 and became its independent chairman in February 2018.

He was deputy prime minister of Singapore from 2005 to 2011.