HSBC controller reports initial share holdings
HSBC Holdings plc Global Financial Controller Daniel Scott Palomaki filed a Form 3 reporting his existing equity interests.
Rhea-AI Filing Summary
HSBC Holdings plc Global Financial Controller Daniel Scott Palomaki filed a Form 3 reporting his existing equity interests. He holds 28,096 ordinary shares of US$0.50 each directly, along with several conditional awards over 27,260, 19,814 and 15,241 underlying ordinary shares and 428 dividend equivalent rights. Footnotes describe prior grants that vest in annual installments through March 2030, with settled awards generally delivered in ordinary shares, although the board may elect cash settlement.
Positive
- None.
Negative
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Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Palomaki Daniel Scott
Role
Global Financial Controller
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Conditional Award | -- | -- | -- |
| holding | Conditional Award | -- | -- | -- |
| holding | Conditional Award | -- | -- | -- |
| holding | Dividend Equivalent Rights | -- | -- | -- |
| holding | Ordinary shares of US$0.50 | -- | -- | -- |
Holdings After Transaction:
Conditional Award — 62,315 contracts (Direct);
Dividend Equivalent Rights — 428 contracts (Direct);
Ordinary shares of US$0.50 — 28,096 shares (Direct)
Footnotes (5)
- F1. On August 15, 2024, Mr. Palomaki received a grant of a conditional award representing the right to potentially receive 80,196 ordinary shares, of which 52,936 ordinary shares have vested and been settled. The remainder of the conditional award will vest in March 2027 (18,162 ordinary shares) and March 2028 (9,098 ordinary shares). All vested conditional awards are settled in ordinary shares within 30 days of vesting, but may be cash-settled at the election of the HSBC Holdings plc board of directors.
- F2. All vested conditional awards are settled in Ordinary Shares within 30 days of vesting, but may be cash-settled at the election of HSBC Holdings plc board of directors.
- F3. On March 12, 2025, Mr. Palomaki received a grant of a conditional award representing the right to potentially receive 26,418 ordinary shares, 25% of which has vested and been settled in ordinary shares. The remaining 75% of the conditional award vests in three equal annual instalments in March of each of 2027, 2028, and 2029.
- F4. On March 9, 2026, Mr. Palomaki received a grant of a conditional award representing the right to potentially receive 15,241 ordinary shares. The conditional award vests in four equal annual installments in March of each year, ending in March 2030. Mr. Palomaki is eligible to earn dividend equivalent units on this conditional award.
- F5. Divided equivalent rights (DERs) accrued on Mr. Palomaki conditional award granted on March 9, 2026. The rights accrue when and as dividends are paid on HSBC Holdings plc ordinary shares. Each DER represents the right to receive the economic equivalent of one ordinary share, and can be settled in cash at the election of the HSBC Holdings plc board of directors. The DERs will be settled as soon as practicable following the vesting of the underlying conditional award.
Key Figures
Direct ordinary shares held: 28,096 shares
Conditional award underlying shares: 27,260 shares
Additional conditional award underlying shares: 19,814 shares
+4 more
7 metrics
Direct ordinary shares held
28,096 shares
Ordinary shares of US$0.50 held directly
Conditional award underlying shares
27,260 shares
Underlying ordinary shares for one conditional award
Additional conditional award underlying shares
19,814 shares
Underlying ordinary shares for second conditional award
New conditional award underlying shares
15,241 shares
Conditional award granted on March 9, 2026
Dividend equivalent rights
428 rights
Rights tied to ordinary shares accruing on 2026 award
Prior large conditional award
80,196 shares
Original grant on August 15, 2024 before partial vesting
2025 conditional award size
26,418 shares
Grant received March 12, 2025
Key Terms
Conditional award, Dividend equivalent rights, Ordinary shares of US$0.50, Vested and been settled, +1 more
5 terms
Conditional award financial
"received a grant of a conditional award representing the right to potentially receive 80,196 ordinary shares"
A conditional award is a promise to give securities or pay compensation that only becomes real if specified conditions are met, such as performance targets, continued employment, regulatory or shareholder approval, or achievement of milestones. For investors, these awards matter because they can increase the number of shares outstanding and company expenses if the conditions are satisfied, and they reveal how management is being incentivized to reach certain goals—like a gift that only arrives once the recipient clears a set of tasks.
Dividend equivalent rights financial
"Dividend equivalent rights (DERs) accrued on Mr. Palomaki conditional award granted on March 9, 2026"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
Vested and been settled financial
"of which 52,936 ordinary shares have vested and been settled"
Cash-settled at the election of the board financial
"may be cash-settled at the election of the HSBC Holdings plc board of directors"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did HSBC (HSBC) executive Daniel Scott Palomaki report on his Form 3?
Daniel Scott Palomaki reported his existing equity interests in HSBC. He holds 28,096 ordinary shares, several conditional awards over ordinary shares, and 428 dividend equivalent rights, reflecting his current equity-based compensation and share position with the company.
How do HSBC (HSBC) dividend equivalent rights work for Daniel Scott Palomaki?
Dividend equivalent rights accrue on one of his conditional awards as HSBC pays dividends. Each right represents the economic equivalent of one ordinary share and may be settled in cash after vesting, at the board’s election, alongside the underlying conditional award.
What are the key vesting dates for Daniel Scott Palomaki’s HSBC (HSBC) awards?
Footnotes state remaining portions of earlier awards vest in March 2027, March 2028 and March 2029, while a newer conditional award vests in four equal annual installments each March through March 2030, aligning his incentives with multi-year company performance.
AI-generated analysis. How Rhea-AI works. Not financial advice.
