Ecovacs Robotics details convertible bond price adjustment for stock options

Ecovacs Robotics Co., Ltd. announced that its board approved a plan detailing how the autonomous exercise of stock options from the 2024 stock option and restricted stock incentive plan will affect the conversion price of its convertible corporate bonds. This adjustment mechanism will be applied whenever the 2024 incentive plan's stock options are exercised.

The company will calculate the impact on the conversion price quarterly during the autonomous exercise period. An adjustment will be made and disclosed when the conversion price change reaches 0.01 per share. This process will also apply if the 2024 incentive plan's stock options are fully exercised ahead of schedule.

Furthermore, Ecovacs Robotics will simultaneously measure the impact of autonomous stock option exercise on the conversion price alongside any adjustments triggered by other corporate actions, such as stock dividends, capital increases, or new share issues (excluding those from current convertible bond conversions), and cash dividends. The company's securities affairs department is authorized to oversee these calculations and disclosures.