Hubei Jumpcan Pharmaceutical adjusts 2022 share incentive plan, revises stock option price

Hubei Jumpcan Pharmaceutical's remuneration and assessment committee has confirmed the first vesting period for its 2022 restricted stock and stock option incentive plan. The plan involves 58 eligible participants for 1,630,800 restricted shares and 60 participants for 1,714,800 stock options, with an adjusted exercise price of CNY 20.74 per option.

The adjustments follow the company’s dividend distributions in 2023, 2024, and 2025, which mandated a recalculation of the stock option exercise price. Additionally, the company will cancel 171,800 stock options and repurchase 171,800 restricted shares due to three employees' departures and five employees' failure to meet performance targets. This will reduce the company's total share capital by 171,800 shares to 920,488,860 shares. The repurchases will be made at the original grant price of CNY 16.00 per share plus accrued interest.