Cosco Shipping Development cancels stock options

COSCO SHIPPING Development (SSE:601866) announced the cancellation of stock options from its incentive plan after failing to meet certain conditions. Approved at the company’s Seventh Session of the Board and Supervisor meetings on May 29, 2025, the cancellation involved 29,449,382 stock options because the conditions for the third exercise period were not met. In addition, the first two vesting periods and the first vesting periods for the remaining stock options were also invalid. The company completed the cancelation on June 10, 2025, with China Securities Depository and Clearing Corporation Limited. The cancellation adheres to relevant laws and regulations, as well as the company’s incentive plan. As a result of the cancellation, the company has fully completed its incentive program.