Summary by Moomoo AI
Chalk Co., Ltd. (Fenbi Ltd.) announced on 3 April 2024 that it has granted a total of 8,932,000 units of restricted shares to 693 Group employees under the 2023 Restricted Share Unit Plan. The award is designed to encourage employees to remain and work to maximize the value of the company to enhance the Group's overall value. The granted restricted shares will be assigned according to a different allocation schedule, of which 3,335,500 units of 72 employees will be allocated in four increments, from the date of issue to the third anniversary; 5,596,500 units of an additional 621 employees will be allocated from the first to the fourth anniversary of the grant date Each anniversary is assigned four times. The program does not set performance targets, but the eligibility conditions for the restricted share units include that the grantor must remain eligible participants after the assignment date. In addition, a callback mechanism will apply if the contractor is no longer eligible. As of the date of the announcement, there are 199,871,773 shares available for further issuance under the Plan.