Summary by Futu AI
On June 18, 2024, Ali Pictures announced that a total of 149,815,222 incentive shares were granted to 273 selected employees, including 2 directors and 271 group employees, under a share incentive plan. These incentive shares were granted at zero cost and will be attributed to awardees in the future under different conditions. Among them, Mr. Fan Luyuan (chairman and CEO of the board) and Mr. Li Jie (executive director) were granted 8,000,000 shares and 10,800,000 shares of incentive shares respectively. The grant of incentive shares aims to reward employees for their contributions to the company and encourage their long-term commitment, without setting performance targets. The newly issued incentive shares will account for approximately 0.51% of the total issued shares of the company.