Boton Technology cancels over 630,000 stock options from 2020 plan

Wuxi Boton Technology announced the completion of the cancellation of 637,714 stock options from its 2020 incentive plan, effective September 5, 2025. The decision was approved by the company's board and supervisory committee through a series of meetings. This move primarily addresses options held by employees who left the company or failed to meet performance targets.

Specifically, 84,600 options were cancelled due to 13 initial grantees leaving the company. An additional 3,500 options, also from initial grantees who departed, were cancelled. Furthermore, 249,113 options were cancelled because employees did not achieve the required performance coefficient of 1.0 during the fourth vesting period.

The cancellation also includes 300,500 unexercised options from the initial grant's fourth exercise period, which ended on May 30, 2025, as well as a remaining 1 option from a previous cancellation event. The company stated that this cancellation will not significantly impact its share capital structure, financial condition, or operating results.