Mesnac cancels unexercised stock options from 2022 incentive plan

Mesnac Co., Ltd. announced the cancellation of 1,161,500 unexercised stock options from the second exercise period of its 2022 stock option and restricted stock incentive plan. The second exercise period expired on September 29, 2025, with 23 incentivized individuals failing to exercise their options. The company's board of directors approved the cancellation on October 13, 2025, and registration with China Securities Depository and Clearing Corporation Limited (CSDC) Shenzhen Branch has been completed.

The stock options were part of an incentive scheme initiated on August 22, 2022, which granted 23,880,000 stock options at an exercise price of CNY 6.17 per share and 15,920,000 restricted shares at a grant price of CNY 3.86 per share. This cancellation aligns with the incentive plan's provisions, which stipulate that unexercised options at the end of their validity period are to be cancelled by the company.

Mesnac stated that this cancellation would not have a significant adverse impact on its financial condition, operating results, or the stability of its management team. The decision was made in compliance with relevant laws and regulations.