Summary by Moomoo AI
Dada Nexus has approved an amendment to its Amended and Restated 2020 Share Incentive Plan, increasing the number of shares available for grant by 51,983,006. The company plans to fund this increase using repurchased shares to offset potential dilution.In a separate development, Dada and other parties involved in the previously disclosed class action lawsuit (Yan Wang v. Dada Nexus Limited et al, No. 2:22-cv-00239) have reached a settlement. The court has granted preliminary approval, pending final approval.These actions demonstrate Dada's commitment to employee incentivization and resolution of legal challenges, potentially impacting the company's financial structure and legal standing.
