Broad Ocean Motor adjusts incentive plans, participants exercise options

Zhongshan Broad Ocean Motor announced the achievement of exercise conditions for the first period of its 2024 stock option incentive plan, with 923 eligible participants exercising 6,334,638 stock options at an exercise price of CNY 4.32 per share. Concurrently, the company also reported the achievement of exercise conditions for the first period of its 2024 stock appreciation rights incentive plan, with 47 participants exercising 863,160 units at the same exercise price.

These announcements follow adjustments to both the 2024 stock option and stock appreciation rights incentive plans, including the cancellation of 879,012 stock options due to participant departures and performance. Additionally, the company adjusted the exercise price for its 2025 stock option and stock appreciation rights incentive plans from CNY 6.12/share to CNY 6.02/share, following a semi-annual dividend distribution. The number of participants in the 2025 stock option plan was revised from 715 to 693, with 15,334,080 stock options granted. Similarly, the 2025 stock appreciation rights plan adjusted to 489 participants, with 8,536,790 units granted.