Effective October 23, 2024, Zhihu Inc. (ZH) options will no longer be settled through the National Securities Clearing Corporation (NSCC) due to the NSCC's decision to stop accepting ZH exercise and assignment activity. Consequently, all ZH and ZH1 options exercise and assignment activity will transition to broker-to-broker settlement starting from the same date. The Options Clearing Corporation (OCC) has confirmed that there will be no exercise restrictions imposed on ZH/ZH1 options and will continue to process exercise instructions as per its rules. The deliverables for ZH and ZH1 options contracts will remain unchanged, with ZH options corresponding to 100 ZH American Depositary Shares and ZH1 options to 16 ZH Shares and $2.35 Cash. In cases where delivery of ZH shares is not possible on the...Show More

Effective October 23, 2024, Zhihu Inc. (ZH) options will no longer be settled through the National Securities Clearing Corporation (NSCC) due to the NSCC's decision to stop accepting ZH exercise and assignment activity. Consequently, all ZH and ZH1 options exercise and assignment activity will transition to broker-to-broker settlement starting from the same date. The Options Clearing Corporation (OCC) has confirmed that there will be no exercise restrictions imposed on ZH/ZH1 options and will continue to process exercise instructions as per its rules. The deliverables for ZH and ZH1 options contracts will remain unchanged, with ZH options corresponding to 100 ZH American Depositary Shares and ZH1 options to 16 ZH Shares and $2.35 Cash. In cases where delivery of ZH shares is not possible on the designated settlement date, the OCC will delay settlement obligations until a new date or method is designated. Clearing Members are required to notify the OCC immediately if they are unable to effect settlement and may be required to provide written confirmation of such inability. The OCC may also consider cash settlement or other alternate methods of settlement as necessary. Additional details and procedures for broker-to-broker settlement are outlined in OCC Information Memo #50206.