Gelonghui, May 21丨KEEP (03650.HK) announced that on May 21, 2024, the company granted 13.2 million restricted share units to employee grantees in accordance with the terms of the initial public offering after-sale share incentive plan (i); and (ii) conditionally grant 4.5 million restricted share units to the director's grantor (that is, 1.5 million restricted share units were granted to each director's grantor).
Employee grantees and directors' assignees are granted with the aim of (a) providing the company with flexible means to attract, reward, retain, reward, compensation, and/or provide benefits to eligible participants; (b) aligning their rights with those of the company and shareholders by providing such eligible participants the opportunity to obtain the company's exclusive rights and become shareholders; and (c) encourage eligible participants to contribute to the long-term growth, performance and profits of the company and shareholders, and enhance the value of the company and shares for the overall benefit of the company and shareholders. The purpose of granting restricted share units is to reward the grantor's performance and contribution to the Group, to align the interests of the grantor with those of the Group through share ownership, dividends and other distributions and/or share value increases, and to encourage and retain the grantor's contribution to the Group's long-term growth and profit. After considering the above, the Board of Directors believes that the terms granted to the grantor are fair and reasonable and conform to the overall interests of the company and shareholders.
Furthermore, during the 12 months prior to the grant, the Company did not grant any share options and/or incentives to any directors' grantees. To further benefit from long-term incentive tools and balance cash and share-based remuneration, the Group optimizes the composition of directors' remuneration by increasing the long-term share-based incentive portion while maintaining the current level of cash payments. The above adjustments are also in line with the Group's long-term incentive-oriented remuneration policy and achieving the respective annual target remuneration levels for directors and grantees according to market levels.