Summary by Moomoo AI
Xiaopeng Motors granted a total of 6,508,732 restricted stock units, representing the same number of Class A ordinary shares, to independent non-executive director Mr. Yang Donghao and 106 employees on July 12, 2024, pursuant to the 2019 stock-based incentive plan. The grant price for the restricted stock units was zero, while the closing price of the Class A ordinary shares on the grant date was HKD 34.450 per share. Under the terms, the restricted stock units granted to the directors will vest in three equal annual installments after three years, while those granted to the employees have different vesting schedules. This grant does not require shareholder approval and will not result in Mr. Yang Donghao or any employee receiving benefits exceeding the prescribed proportion within 12 months. The grant aims to retain and motivate employees and does not set performance targets. The Hong Kong Stock Exchange has approved the listing and trading of the new Class A ordinary shares in connection with this grant.
