Shenzhen Kaifa Technology's 2022 stock option plan begins first exercise period

Shenzhen Kaifa Technology has announced the commencement of the first exercise period for its 2022 stock option incentive plan's reserved grant. The exercise conditions have been met for 57 incentivized individuals, who hold a total of 2.350722 million stock options, representing 0.1496% of the company's current total share capital. The exercise price for these options is RMB 17.07 per share, with shares sourced from a directed issuance of A-shares to the incentivized individuals.

The exercise period for the reserved grant's first tranche will run from October 24, 2025, to October 23, 2026. The company confirmed that all necessary registration procedures with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, have been completed. The independent exercise model will be used, with Huatai Securities Co., Ltd. acting as the designated brokerage firm.

This exercise follows adjustments to the plan, including changes in the number of incentivized individuals and option quantities due to employee departures and performance assessments. The exercise price has also been adjusted multiple times to reflect dividend distributions from 2022, 2023, and 2024, maintaining the plan's alignment with regulatory requirements and company performance.