East Buy Holding Limited has announced a conditional grant of 1.80 million share awards to Chairman, Executive Director and CEO Yu Minhong under its 2023 Share Scheme. The grant represents approximately 0.17% of the company’s 1.06 billion issued shares (excluding treasury shares) as of the 28 April 2026 grant date.
The share awards carry a nil purchase price and will vest in three equal tranches on the first, second and third anniversaries of the grant. Vesting is subject to performance thresholds tied to gross merchandise value and revenue growth, private-label product quality, new business opportunities generated by Mr Yu, and the performance and diversity of his live-streaming sessions. A claw-back mechanism allows the board to cancel or reclaim unvested or vested shares in cases of misconduct or misalignment with scheme objectives.
If fully vested, Mr Yu’s shareholding would increase from 36.78 million shares (3.47%) to 38.58 million shares (3.63%), while the public float would dilute marginally from 96.53% to 96.37%. After the proposed grant, 56.26 million shares remain available for future awards under the 2023 Scheme.
Because Mr Yu is a core connected person, the grant exceeds the 0.1% single-participant threshold in a 12-month period and therefore requires approval by independent shareholders under Listing Rule 17.04(4). Hong Kong Exchanges and Clearing Limited has already approved listing of any new shares issued within the scheme mandate limit of 101.35 million shares (10% of shares outstanding when the scheme was adopted).
An Extraordinary General Meeting will be held at the company’s Beijing office on 23 June 2026 at 2:00 p.m. The register of members will close from 17 June to 23 June 2026; shareholders must lodge transfer documents by 4:30 p.m. on 16 June 2026 to qualify for attendance and voting.
Independent non-executive directors have endorsed the proposal, stating it aligns Mr Yu’s long-term interests with those of shareholders while recognising his strategic contributions and leadership in the group’s e-commerce and live-streaming transformation.
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