CATL vests shares for employees, cancels unvested options

Contemporary Amperex Technology (CATL) announced the achievement of vesting conditions for the third period of its 2022 stock option and restricted stock incentive plan. A total of 1,650,424 restricted shares, priced at 132.66 yuan per share, are set to vest for 3,711 eligible employees. Concurrently, 1,028,425 stock options are exercisable at 278.90 yuan per share for 136 individuals. These actions follow multiple adjustments to the plan, including changes in share numbers and exercise prices due to employee departures and capital distribution events.

The company also announced the cancellation of 221,079 restricted shares from the 2022 plan and 2,918,365 restricted shares from the 2023 plan due to employee resignations, failure to meet individual performance targets, or the company not achieving the 2023-2024 cumulative operating revenue target of 8,100 bn yuan. Actual revenue reached 7,629.30 bn yuan. Additionally, 297,857 unexercised stock options from the 2022 plan have been cancelled.

These adjustments ensure the incentive plan remains aligned with performance objectives and regulatory requirements, as confirmed by the board, supervisory committee, and independent financial advisors. The company will proceed with the necessary registration procedures for the vested shares and options.