Will Semiconductor approves stock option exercises, cancellations

Will Semiconductor (Shanghai) has approved significant actions regarding its 2023 stock option incentive plans. During its seventh board of directors' fifth meeting on September 12, 2025, the company approved the second exercise period for its first and second 2023 stock option incentive plans. Under the first plan, 716 eligible participants can exercise 2,561,099 stock options, while the second plan allows 1,831 eligible participants to exercise 3,859,246 stock options, with an exercise price of CNY 78.41 per share for both.

Concurrently, the board also approved the cancellation of unexercised stock options for employees no longer meeting the incentive criteria. Specifically, 31 participants from the first 2023 plan had 170,414 options cancelled, and 147 participants from the second 2023 plan had 529,800 options cancelled. The board also resolved to change the exercise method for the first 2023 plan from batch exercise to autonomous exercise to improve convenience and efficiency.

The board’s remuneration and assessment committee verified the eligibility of the participants and confirmed that the company and individual performance conditions for the exercise were met.