Zai Lab grants restricted shares to independent directors

Zai Lab announced that on June 18, 2025, it granted restricted shares covering an aggregate of 86,648 ADSs to eight independent directors. Each grantee will receive restricted shares equal to US$400,000 divided by the company's NASDAQ closing price on the grant date. Each grant is for 10,831 ADSs per person that converts to 108,310 underlying shares per person. The shares will vest 100% on the first anniversary of the grant date, contingent on continued service on the board. The closing price of Zai Lab's ADSs on NASDAQ on the grant date was US$36.93. The purpose of the grants is to recognize and reward the directors for their contributions to Zai Lab and to provide incentives for continued service. As of the grant date, 81,758,963 shares are still available for future grants under the 2024 Equity Incentive Plan.