China Boton clarifies share award scheme vesting periods

China Boton Group Company Limited has provided additional details regarding its Share Award Scheme, specifying that the vesting period for awarded shares will generally be no less than twelve months from the acceptance date by selected employee participants or service providers. However, the board retains sole discretion to grant shorter vesting periods for employee participants (excluding service providers) under certain conditions.

These exceptions include "make whole" awards for new employees, awards to participants whose employment is terminated due to death, disability, or force majeure, and awards subject to performance targets. Shorter vesting periods may also apply to awards determined by administrative or compliance requirements, or those with mixed vesting schedules over 12 months, or a total vesting and holding period exceeding 12 months.

The company confirmed that no share awards have been granted, lapsed, or cancelled under the Share Award Scheme since its adoption and up to December 31, 2024. This supplemental information pertains to the "Share Award Scheme" section within the directors' report of the 2024 Annual Report.