Summary by Futu AI
Tongcheng Travel announced the adoption of the 2024 Share Incentive Plan, which allows for the issuance of a maximum of 23,249,990 shares, approximately 1% of the company's issued shares. This plan aims to provide flexible compensation and incentive mechanisms for eligible participants to promote the long-term development of the company.On June 27, 2024, the company granted 21 million stock options to its Chief Executive Officer, Ma Heping, with an exercise price of HKD 15.92 per share. These stock options will vest in equal installments over six years, reflecting the company’s long-term commitment to incentivizing its executive team.Eligible participants in the plan include full-time and part-time employees, directors, senior executives, and associates. The plan will terminate either on the tenth anniversary from the adoption date or on an earlier date as determined by the Board of Directors, whichever is earlier, clearly demonstrating the company's long-term commitment to talent development.
