Home Business China’s Geely Auto grants up to 150 million shares as an employee reward plan with shares in electric vehicle subsidiary Jikrypton | Reuters

China’s Geely Auto grants up to 150 million shares as an employee reward plan with shares in electric vehicle subsidiary Jikrypton | Reuters

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Reuters, Hong Kong, August 20-Chinese private automobile company-Geely Automobile0175.HKIt was stated on Friday that the board of directors decided to adopt part of the shares of its electric vehicle company Krypton as a reward plan for employees, granting up to 150 million shares.

According to the company statement (here), the company will grant rewards to 3,393 selected participants according to the incentive plan, through reservations and future issuance of new krypton shares, a total of approximately 56.56 million krypton shares. Subject to other applicable conditions, the granted shares can begin to vest on April 15, 2022 and complete on April 15, 2025.

Geely Automobile stated that the Krypton Share Incentive Program aims to encourage selected participants to continue to make greater contributions to the long-term growth of Krypton Group, thereby enhancing the value of the company, which is beneficial to shareholders, and attracting and retaining its contributions is beneficial to Krypton Group. Quality employees for growth and development.

Geely Automobile currently holds a 51% stake in Gee Krypton. Assuming that the award shares are granted in full, the company’s shareholding will drop to about 47.4%, and it will still be the single largest shareholder of Geely Krypton. (Finish)

Reporter Liang Huiyi; Reviewer Zhang Xiliang

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