CaoCao Inc. (Hong Kong: 02643) announced that the board has approved the grant of 2.74 million restricted share units (RSUs) to 81 employees under its Share Incentive Scheme on 14 September 2026. The award represents approximately 0.47% of the company’s outstanding share capital, excluding treasury shares, on the grant date.

The RSUs are issued at no purchase cost to recipients, with the company’s shares closing at HK$11.41 on the grant date. Vesting is divided into two tranches:

• 1.40 million RSUs for 34 employees will vest in four equal annual instalments (25% per year) over a minimum 12-month period, contingent on meeting group-level financial and operational targets as well as individual performance metrics.

• 1.34 million RSUs for 47 employees will vest in full on the first anniversary of the grant, subject to business-line growth criteria such as revenue, profit, cost controls or task completion.

CaoCao has embedded claw-back provisions enabling recovery of vested or unvested RSUs in cases of misconduct, breach of confidentiality, reputational damage to the group, or material misstatements affecting performance-linked awards.

Post-grant, 33.17 million shares remain available for issuance under the scheme’s overall mandate, while 5.79 million shares are reserved under the service-provider sub-limit. The company confirmed that none of the beneficiaries are directors, chief executives, substantial shareholders, related-entity participants or service providers, and no financial assistance has been offered for share purchases.

Management states the equity awards are designed to align employee interests with shareholders, foster long-term value creation and support talent retention initiatives.