Great Wall Motor cancels stock options under 2023 incentive plan

Great Wall Motor Company (SSE:601633) announced the cancellation of 6,625,588 stock options initially granted under its 2023 Stock Option Incentive Plan. The decision, approved by the board of directors on March 31, 2025, stems from several factors including the departure of 62 employees, role changes for 50 employees, and the 2024 performance review outcomes for 636 employees. Some plan participants did not meet the required performance thresholds.