Great Wall Motor's stock incentive plan sees first vesting

Great Wall Motor Co., Ltd. [SSE:601633] is moving forward with its 2023 restricted stock incentive plan, with the first tranche of granted shares now eligible for vesting and listing, unlocking 15,355,284 shares for 670 employees. The listing and circulation date for these shares is set for April 28, 2025. As a result of recent staff departures, position changes, and performance evaluation failures, the company also authorized the cancellation of awarded but unvested stock options of 257,623 shares. According to an announcement, GWM shares now have increased outstanding shares. GWM further states that the incentive plan aligns company and employee interests. GWM has appointed Beijing Kin Chuen Law Firm for legal matters relating to the incentive plan.