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Li Auto | 6-K: Amendment of Performance Targets of Previously Granted Restricted Share Units

SEC announcement · Apr 1 08:15

LI +0.27%

Summary by Moomoo AI

Li Auto Inc. has announced an amendment to the performance targets for the restricted share units (RSUs) previously granted under its 2019 and 2020 share incentive plans. The amendment, effective from March 31, 2024, introduces specific performance targets that grantees must meet to vest their RSUs. These targets are based on performance appraisal results, adherence to internal rules and regulations, and fulfillment of obligations as determined by the company's board or a delegated committee. The amendment aims to leverage the RSU grants to incentivize grantees and enhance the company's competitiveness. Li Auto has a standardized performance appraisal system to evaluate grantees' contributions, with indicators such as work quality, efficiency, collaboration, and management. Non-satisfactory appraisal results will lead to forfeiture of the RSUs due to vest. The vesting dates of the RSUs may be extended to align with the availability of appraisal results. The amendment has been approved by the board and the Compensation Committee, in compliance with the listing rules of The Stock Exchange of Hong Kong Limited. Other than the performance targets and potential vesting date extensions, no other terms of the RSU grants are affected. The announcement was made on April 1, 2024, by the company, which is incorporated in the Cayman Islands and listed under stock code 2015.

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