Conba Pharmaceutical board approves stock option exercise for employees

Zhejiang Conba Pharmaceutical's board of directors has approved the exercise of stock options under its 2022 incentive plan. The second exercise period for the initial grant includes 460 eligible employees exercising 15.9018 million stock options at an adjusted price of 3.63 yuan per share. Concurrently, the first exercise period for the reserved grant has been approved, allowing 97 eligible employees to exercise 2.914 million stock options at an adjusted price of 4.92 yuan per share. Both tranches will be fulfilled through the issuance of new A-shares.

The company announced the cancellation of 2.0292 million stock options. This includes 2.0058 million options due to employee departures or retirement, and an additional 23,400 options due to individual performance assessments. The options for the second tranche of the initial grant will be open for exercise from November 28, 2025, to November 27, 2026.

These approvals follow a series of board and supervisory committee meetings from 2022 to 2025 that established and adjusted the incentive plan, including changes to exercise prices due to cash dividend distributions in 2023, 2024, and 2025. The company confirmed that all performance conditions for both tranches have been met.