Summary by Moomoo AI
On November 19, 2024, Alibaba granted Awards involving 2,493,400 underlying Shares (approximately 0.01% of total issued Shares) to certain employees under its 2024 Equity Incentive Plan. The Awards were granted with nil purchase price, with the closing share price at HK$85.25 on the grant date.The Awards feature a mixed vesting schedule spanning 4 years, with certain portions vesting within 12 months of the grant date. The grants aim to attract and retain talent, provide incentives for contributions to the Group, and align interests with shareholders. None of the grantees are directors, chief executives, substantial shareholders, or their associates.Following this grant, 480,506,600 Shares remain available for future grants within the scheme mandate limit, with 93,716,368 Shares reserved under the service provider sub-limit. The Awards include a clawback mechanism for specified events such as termination for cause or breach of restrictive covenants.
