Shanghai Iluvatar CoreX Semiconductor Co., Ltd. (Iluvatar CoreX) has approved a new round of equity incentives for employees under its 2026 H-Share Award Scheme.
On 15 October 2026, the board granted 2.22 million H-Share awards to 273 employee participants at a purchase price of RMB1.00 per share. The allocation represents 5.83% of the shares still available under the scheme mandate and 0.28% of Iluvatar CoreX’s enlarged share capital of 807.52 million shares following the recent capitalization issue.
The awards will vest in three tranches over forty-eight months: • 50% after 24 months • 25% after 36 months • 25% after 48 months
Vesting is contingent on each grantee achieving at least a “Satisfactory” annual performance rating and paying the applicable purchase price for each tranche.
A board-approved claw-back mechanism allows Iluvatar CoreX to cancel or repurchase unvested or vested shares if misconduct, breach of duty, or other specified violations occur.
The award price of RMB1.00 per share contrasts with the H-Share closing price of HKD79.80 on the grant date, underscoring the incentive’s potential value for recipients. No directors, chief executives, substantial shareholders, related-entity participants, or service providers are included in this grant, and no individual exceeds the 1% award limit stipulated by Hong Kong Listing Rule 17.03D.
After this distribution, 35.92 million H Shares—equivalent to 4.45% of the total issued share capital—remain available for future grants under the scheme’s mandate.
The board stated that the award aims to attract, retain, and motivate key talent, align employee interests with shareholder value, and support the company’s long-term development.
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