Summary by Moomoo AI
XIAO PENG AUTOMOBILE ANNOUNCED ON 19 APRIL 2024 THAT IT HAS GRANTED A TOTAL OF 5,106,242 SHARES OF RESTRICTED SHARES TO 99 EMPLOYEES UNDER THE EQUITY INCENTIVE SCHEME 2019, REPRESENTING THE SAME NUMBER OF CLASS A ORDINARY SHARES. The grant does not require shareholder approval and is granted to non-company directors, top executives or major shareholders. The holdings of restricted units are subject to service conditions and will be allocated in batches between 2025 and 2028 on different schedules. The HKEX has approved the listing of the corresponding new Class A Ordinary Shares. The restricted share units issued in this offering represent approximately 0.27% of the Company's total issued shares. In the event of termination by the grantor, all unvested restricted units will be cancelled.