Summary by Futu AI
On December 15, 2024, Kanzhun granted 599,984 share awards in the form of RSUs to 16 employees under its Post-IPO Share Scheme. The awards represent an equal number of Class A Ordinary Shares and will be satisfied using shares held by the ADS depositary.The RSUs have varying vesting schedules: 57.85% will vest over 2-4 years, with 50% vesting on the second anniversary, 25% on the third, and 25% on the fourth. The remaining 42.15% will vest in equal portions annually over four years. Vesting is subject to continued employment but not performance targets. The grants include a clawback mechanism for certain conditions.The grants aim to reward employee efforts, provide incentives, and allow more employees to benefit from share value increases. After these grants, 55,569,674 Class A Ordinary Shares remain available under the scheme's mandate limit.