Hundsun adjusts stock option plan, repurchases unvested shares

Hundsun Technologies is repurchasing unvested shares from its 2022 and 2023 employee stock ownership plans (ESOPs). For the 2022 ESOP, 90,415 unvested shares will be repurchased at CNY 16.54 per share due to employee departures. For the 2023 ESOP, 392,550 unvested shares will be repurchased at CNY 19.72 per share, primarily because the 2024 net profit growth target was not met. These repurchased shares will either be canceled or reallocated to future ESOPs.

Additionally, Hundsun Technologies has adjusted its 2025 stock option incentive plan. The number of incentive recipients has decreased from 624 to 621, and the total granted stock options have been reduced from 15.159 million to 15.125 million units. The exercise price for these options is set at CNY 37.98 per share, with an option value of CNY 34.16 per share, and vesting periods of 12, 24, and 36 months.

Concurrent with these adjustments, Hundsun Technologies will cancel 927,250 unexercised stock options from the 2022 plan and 5,412,638 unexercised stock options from the 2023 plan due to unmet exercise conditions or unapplied options, reflecting ongoing adjustments to its incentive schemes.