Summary by Moomoo AI
Xiaopeng Motors announced on October 18, 2024, that under the 2019 stock-based incentive plan, a total of 4,932,710 restricted stock units were granted to a senior management member and 233 employees, representing the same number of Class A common shares. The grant does not require shareholder approval and the recipients are not company directors, top executives, or major shareholders. The conditions for granting restricted stock units are based on the 2019 stock-based incentive plan and the incentive agreement, and have been approved for listing and trading by the Listing Committee of the Hong Kong Stock Exchange. The granted restricted stock units will be gradually allocated to the grantees over the next four years based on service conditions and performance targets. The units granted in this round represent approximately 0.26% of the total issued shares of the company, and will not result in any individual grantee receiving rewards exceeding 1% of the issued shares within 12 months.