NetEase sets 322,458,300-share cap for 2019 share incentive plan awards

NetEase adopted a second amended and restated 2019 share incentive plan covering options, restricted share units and dividend equivalent rights.

The share issuance cap is set at the lower of 322,458,300 ordinary shares or 10% of ordinary shares outstanding at shareholder approval.

New-share grants to consultants are capped at 1% of ordinary shares outstanding at shareholder approval.

Options funded by new shares cannot be priced below the grant-date close or five-day average close on the Hong Kong Stock Exchange or Nasdaq, depending on settlement.

The plan is effective from February 2023 and is scheduled to run through February 2033.