Zhihu Inc. (HKEX: 2390, NYSE: ZH) has announced the grant of a total of 1,079,805 restricted share units (RSUs) to six eligible employees on October 17, 2025. According to the announcement, the RSUs were awarded at a purchase price of US$0.01 each, reflecting approximately 0.4% of the total issued shares (excluding treasury shares) as of the grant date. The market price of the Class A Ordinary Shares on the Stock Exchange was HK$10.89 on October 17, 2025, and the American Depositary Shares (each representing three Class A Ordinary Shares) were US$4.32 on October 16, 2025, in New York.
The RSUs will vest over a period of 36 to 48 months in multiple tranches. Vesting is subject to performance targets, and any portion not meeting the targets will be forfeited. A clawback mechanism stipulates that in cases of employment termination for cause or misconduct, all unvested RSUs become void.
The announcement further indicates that the grants aim to align personal interests with those of shareholders and to encourage strong individual performance. Following this grant, 5,245,515 Class A Ordinary Shares remain available for future RSU awards and 13,042,731 remain available for future option grants under the 2022 Share Incentive Plan. The plan was adopted before recent amendments to Chapter 17 of the Listing Rules, and the company will comply with relevant transitional arrangements. No treasury shares are held by the company as of the announcement date.
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