iDreamSky Technology Holdings Limited announced the issuance of 11.84 million share options to 63 non-director employees under its 2023 New Share Option Scheme on 8 June 2026.
The options carry an exercise price of HKD0.348, matching the five-day average closing price before the grant and 2.35 % above the HKD0.340 closing price on the grant date. The options have a ten-year life and cannot vest earlier than 12 months after the grant.
Vesting mechanics vary by employee group: • For 3 senior grantees (6.00 million options), 50 % vests if the share price reaches at least HKD1.00 one year after grant, with the remaining 50 % vesting once the price hits HKD1.50. • For 57 employees (4.74 million options), vesting percentages are adjusted annually according to individual, departmental and group performance scores. • For 3 other employees (1.10 million options), 600,000 options vest after 12 months and the remaining 500,000 after 24 months.
A rebate clause triggers immediate lapse of unexercised options if a grantee ceases to be an eligible participant or violates non-transfer, confidentiality or non-competition provisions. No grantee is a director, chief executive, substantial shareholder, connected entity participant or service provider, and no individual exceeds the 1 % limit required by Hong Kong listing rules.
Following this grant, 13.91 million shares remain available for future awards under the 2023 scheme.
The board cites employee recognition, retention and alignment of interests with shareholders as the primary reasons for the option grant.
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