Hesai Group disclosed the award of 785,356 restricted share units (RSUs) on 25 March 2026 under its 2021 Share Incentive Plan. The grant represents 0.79 million Class B ordinary shares with no purchase price attached.
The allocation covers four directors—Chairman and CEO Dr. Yifan Li, Chief Scientist Dr. Kai Sun, CTO Mr. Shaoqing Xiang and Independent Non-executive Director Dr. Hui Wang—and 70 employees. Individual director allocations stand at 157,000 RSUs each for Dr. Li, Dr. Sun and Mr. Xiang, while Dr. Wang receives 6,565 RSUs. The employee group receives a combined 307,791 RSUs.
The reference market price is HK$178.20 per Class B share, the closing price on 24 March 2026, the trading day preceding the grant. Vesting for the three executive directors and employee recipients spans 48 months in equal tranches; Dr. Wang’s award vests in three equal portions over three years.
Performance targets are not attached. The Compensation Committee cited alignment with long-term shareholder interests, existing remuneration structures, and a four-year vesting horizon as sufficient incentive mechanisms. Unvested RSUs are subject to forfeiture or repurchase upon termination, with vested units also forfeitable if dismissal is for cause.
Post-grant, 13.93 million Class B shares remain available for future awards under the 2021 Plan, while the consultant sub-limit is unchanged at 0.75 million shares. Independent non-executive directors approved the director grants (with the respective directors abstaining), confirming compliance with Hong Kong Listing Rules limits.
The company states that the grants aim to retain key talent, motivate superior performance and align management interests with those of shareholders. No financial assistance will be provided to recipients for the acquisition of shares arising from the RSUs.
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