Hong Kong-listed Black Sesame International Holding Limited on 23 October 2026 granted an aggregate 14.28 million share awards to 659 grantees pursuant to its Post-IPO Share Plan adopted in July 2024.
Of the total awards, Executive Director, Chairman and CEO Mr Shan Jizhang received 0.70 million shares, while 658 eligible employees were allocated 13.58 million shares. All awards carry a nil purchase price.
The awards vest on a straight-line, time-based schedule: 25% one year after the vesting commencement date and the remaining 75% in equal annual tranches over the subsequent three years. No additional performance targets apply.
A claw-back mechanism permits forfeiture of unvested or vested awards under specified circumstances, including resignation, serious misconduct, or summary dismissal.
The grants will be settled through the issue of new shares within the existing scheme mandate. Following this allotment, 25.48 million shares—about 3.56 % of Black Sesame’s issued share capital—remain available for future grants under the plan.
The closing price of Black Sesame shares on the grant date was HK$7.45. Independent non-executive directors unanimously approved the awards. Although Mr Shan’s award constitutes a connected transaction, it is exempt from further reporting or shareholder approval under Rule 14A.92(3)(a) of the Hong Kong Listing Rules.
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