KE Holdings Inc. (BEKE-W) has approved the issuance of 471,120 restricted share units (RSUs), equal to the same number of Class A ordinary shares, to 15 employees on 1 October 2026. The awards are being made under the company’s 2020 Global Share Incentive Plan and do not require shareholder approval, as none of the grantees is a director, chief executive, or substantial shareholder.
Key terms • Size and pricing: 471,120 RSUs with no purchase cost to recipients; reference closing price on the trading day prior to grant was HK$44.60 per share. • Vesting structure: All RSUs are scheduled to vest in tranches over periods ranging from 24 to 48 months. The largest block—165,000 RSUs—will vest in three equal annual installments (33%, 33%, 34%) over three years. A 54,000-unit tranche vests 50% immediately on grant, with the balance vesting over the following two years. • Performance targets: None are attached to these awards. • Clawback: Vested and unvested RSUs are subject to forfeiture, and benefits may be recovered if a grantee’s employment terminates for cause, in line with plan provisions. • Dilution impact: Post-grant, 120.39 million Class A ordinary shares remain available for future awards under the 2020 plan, which originally covered up to 253.25 million shares. The latest grant does not cause any individual to exceed the 1% single-grantee cap over a 12-month period. • Settlement: Vested RSUs will be satisfied by shares already registered in the depositary bank’s name; the Hong Kong Stock Exchange has approved their listing and dealing.
Rationale Management stated the grants are intended to recognize prior contributions, align employee interests with shareholders through direct equity ownership, and enhance long-term retention ahead of the company’s growth initiatives. The 2020 Share Incentive Plan, adopted in July 2020 and amended in April 2022, remains in force until its tenth anniversary in May 2032 unless terminated earlier.
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