Summary by Futu AI
On ****, 2024, Great Wall Motor announced that it had adjusted its stock-based incentive plan for 2023 according to the legal opinion issued by Beijing Jincheng Tongda Law Firm. The adjustment includes the repurchase and exercise price adjustment of restricted stocks as well as the repurchase and cancellation of some of the restricted stocks. According to the company's annual profit distribution plan, the repurchase price of restricted stocks has been adjusted from 13.61 yuan/share to 13.31 yuan/share, and the exercise price of stock options has been adjusted from 27.22 yuan/share to 26.92 yuan/share. In addition, due to the departure of 12 incentive beneficiaries before the end of the lock-up period, the company has decided to repurchase and cancel a total of 1,128,000 restricted stocks. The funds for this repurchase and cancellation come from the company's own funds. Beijing Jincheng Tongda Law Firm has confirmed that this adjustment and repurchase and cancellation have obtained the necessary approval and authorization and are in compliance with relevant laws and regulations.