InnoCare Pharma Limited announced that on 24 April 2026 the board approved a grant of 15.39 million restricted share units (RSUs), equal to about 0.87 % of issued shares (excluding treasury stock), under its 2023 Share Award Scheme.
The allocation comprises 10.78 million RSUs to Chairperson and CEO Dr. Jisong Cui, 2.15 million to Executive Director Dr. Renbin Zhao, and 2.46 million to a senior manager. All awards carry a nil purchase price and reference a closing market price of HK$14.70 on the grant date.
Vesting is staged at 25 % annually from the first to the fourth anniversary of the grant, conditional on both corporate and individual performance criteria covering revenue, R&D progress, cost control, and role-specific contributions. A claw-back mechanism applies in cases of misconduct, regulatory breaches, or failure to meet non-compete obligations.
Because the cumulative awards to Dr. Cui and Dr. Zhao each exceed the 0.1 % threshold set by Hong Kong Listing Rule 17.04(4), their grants require shareholder approval at the forthcoming annual general meeting. Both executives have abstained from the relevant board and compensation committee votes.
All RSUs will be settled with shares already held in trust; therefore, no new shares will be issued and existing shareholders will face no dilution. After this grant, 26.22 million shares remain available for future awards, including 1.76 million that may be allocated to service providers.
The board stated that the award size reflects InnoCare’s 2025 performance, highlighted by operating revenue of RMB 2.37 billion—up 135.30 % year on year—and the company’s first move to profitability, as well as progress in clinical development and international partnerships.
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