CATL announces fourth stock option exercise period for 2021 incentive plan

Contemporary Amperex Technology Co., Ltd. (CATL) announced the opening of the fourth exercise period for its 2021 stock option and restricted stock incentive plan. A total of 186 eligible incentive recipients will be able to exercise 715,564 stock options at an adjusted exercise price of 326.46 yuan per option. This comprises 538,494 options from the initial grant and 177,070 from the reserved grant. The shares will be sourced from a direct issuance of A-shares by the company to the incentive recipients.

The independent exercise period is scheduled from December 19, 2025, to November 18, 2026. The company’s board of directors and supervisory board approved the fulfillment of the exercise conditions on October 20, 2025. This includes meeting the cumulative operating revenue target of 12.219 bn yuan for 2021-2024, exceeding the 6.2 bn yuan benchmark. All assessed incentive recipients achieved an individual performance rating of B or higher, qualifying for a 100% exercise ratio.

The exercise is expected to increase the company's total share capital by 715,564 shares, potentially diluting earnings per share and return on net assets. However, it is not anticipated to significantly alter the company's ownership structure or control. The proceeds from the exercise will be allocated to a special account to supplement the company's working capital.