Summary by Futu AI
On December 15, 2024, Ideal Automobiles granted a total of 3,946,970 restricted stock units to 634 employees according to the 2019 plan, accounting for approximately 0.19% of the company's total issued shares. The restricted stock units represent the same number of Class A ordinary shares, with a grant price of $0.1 each.The total vesting period for the restricted stock units ranges from approximately 12 months to 60 months, with 6.76% vesting in batches, the first batch will vest within less than 12 months from the grant date. Vesting is contingent upon achieving goals related to performance assessment results, including work quality, efficiency, collaboration, and management Indicators. The company has a clawback mechanism in place, allowing it to require the transferee to return shares or relinquish proceeds if employment is terminated or regulations are violated.After this grant, the company can further award a total of 40,381,132 shares of Class A ordinary shares under the 2019 plan. The company will comply with the transitional arrangements of the new Chapter 17 of the Listing Rules.
