MiniMax Grants Over HKD 600 Million in Stock Incentives: Zhao Pengyu Receives 129 Million with No Performance Evaluation Requirement

BlockBeats News, June 23, Hong Kong Stock Exchange-listed company MiniMax (0100.HK, listed entity MiniMax Group Inc.) announced that it has granted a total of 1,168,776 shares as part of the post-IPO share incentive plan, corresponding to the same number of newly issued Class A common shares. Calculated at a closing price of HK$515 per share on the grant date, the total value of the incentive is approximately HK$6.02 billion, with a purchase price of zero.

Among them, Executive Director and Head of Large Language Model Research and Engineering Zhao Pengyu was granted 250,000 share incentives, valued at approximately HK$1.29 billion based on the day's stock price; the remaining incentives were granted to company employees and service providers. The total vesting period for employee incentives is 13 to 72 months, and for service providers, it is 12 to 44 months, while Zhao Pengyu's total vesting period is approximately 66 months.

The announcement stated that all vesting of incentives does not set performance targets but includes a clawback mechanism. If the grantee engages in serious misconduct, fraud, or significant financial statement misrepresentation, the company has the right to recover the proceeds or confiscate the vested incentives.

The substantial equity incentives show that MiniMax is still actively increasing its investment in talent by binding the core team with long-term equity to enhance long-term talent competitiveness. Co-founder and CEO Yan Junjie once candidly stated in an interview that his team's management logic is to "give more money, don't wait to accomplish, and issue it now."

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