Great Wall Motor executes stock, option grants, adjusts conversion price

Great Wall Motor (SSE: 601633) announced the finalization of reserved grants under its 2023 restricted stock and stock option incentive plans. The company issued 5.575 million restricted shares to 94 key personnel at RMB 12.74 per share, and 7.849 million stock options to 174 individuals at an exercise price of RMB 25.47. Simultaneously, Great Wall Motor adjusted the conversion price of its "Great Wall Convertible Bonds" (SSE:113049) from RMB 39.62 to RMB 39.60, effective February 27, 2025, due to the exercise of stock options under the 2021 plan and the issuance of restricted shares in 2023. Trading of the convertible bonds will be suspended on February 26th before resuming on February 27th. The equity incentive plans aim to align employee interests with company performance, while the convertible bond adjustment reflects standard anti-dilution provisions, protecting bondholder value amid increased share capital. The funds raised from the new shares will be used to replenish Great Wall Motors' working capital.