Summary by Moomoo AI
Scholar Edu announced on November 29, 2024 that, in accordance with the share plan adopted on February 27, 2024, it granted stock options to some employees, totaling 16,671,000 shares. This aims to motivate, retain, and reward grantees, providing them with the impetus to explore new markets and enhance the group's value. The exercise price of the stock options is HK$5.16 per share and will be vested in three tranches between 2026 and 2028.
The vesting of stock options depends on performance targets at both the group and individual levels, with unmet targets resulting in forfeiture. Vested stock options can be exercised within two years from the vesting period, and all unexercised stock options will expire after January 15, 2030. If grantees violate relevant terms or terminate employment, unvested stock options will immediately expire.
This grant does not require shareholder approval and the grantees are not contacts of the company's directors or major shareholders. Post-grant, there are 22,228,000 shares available for future grants under the share plan.
