Zhihu Inc. announced that on 16 October 2026 it awarded a total of 809,802 restricted share units (RSUs) to five Group employees under its Amended and Restated 2022 Share Incentive Plan. The award equals 0.32% of total shares outstanding (on a one-share-one-vote basis), with each RSU carrying a purchase price of US$0.01.
The RSUs correspond to the same number of Class A ordinary shares. Reference market prices on the grant date were HK$9.00 per Class A share on the Hong Kong Stock Exchange and US$3.50 per American Depositary Share (each ADS represents three Class A shares) on the New York Stock Exchange’s prior trading day.
Vesting spans 48 months under a mixed schedule: initial tranches vest on the first anniversary of the vesting commencement date, and subsequent tranches culminate after four years. Portions of the award are conditional on individual performance metrics; any unmet targets will result in automatic forfeiture of the relevant RSUs. Standard claw-back provisions apply, including immediate cancellation of unvested units upon termination for cause or specified misconduct.
Following this grant, 14.67 million shares remain available for issuance under the main pool of the 2022 Share Incentive Plan, with a further 0.52 million shares available under the plan’s service-provider sub-limit.
The Board states that the grants aim to strengthen alignment between key personnel and shareholder interests while supporting recruitment and retention of critical talent. All grantees are employees rather than directors, substantial shareholders, or related entities, and the awards do not exceed individual or aggregate limits stipulated by Hong Kong Listing Rules.
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