Vesting condition and periods |
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The RSUs shall be subject to a service-based vesting condition.
Subject to the terms of the RSU Grants and the 2019 Equity Incentive Plan, the RSUs granted to the Grantees shall vest in accordance with the following
schedule: (i) 63% of the RSUs granted
under the RSU Grants shall vest in equal portions of 25% on January 1, 2025, January 1, 2026, January 1, 2027 and January 1, 2028, respectively.
(ii) 11% of the RSUs granted under the RSU Grants shall vest in equal portions of 25% on October 1,
2024, October 1, 2025, October 1, 2026 and October 1, 2027, respectively.
(iii) 3% of the RSUs granted under the RSU Grants shall vest in equal portions of 25% on July 1,
2024, July 1, 2025, July 1, 2026 and July 1, 2027, respectively.
(iv) 1% of the RSUs granted under the RSU Grants shall vest in equal portions of 25% on April 1, 2024,
April 1, 2025, April 1, 2026 and April 1, 2027, respectively.
(v) 3% of the RSUs granted under the RSU Grants shall vest on January 31, 2025.
(vi) for 19% of the RSUs granted under the
RSU Grants, 25% of which shall vest on January 1, 2025, and the remaining 75% shall vest in equal portions of 6.25% on April 1, 2025, July 1, 2025, October 1, 2025, January 1, 2026, April 1, 2026, July 1, 2026,
October 1, 2026, January 1, 2027, April 1, 2027, July 1, 2027, October 1, 2027 and January 1, 2028, respectively.
According to the 2019 Equity Incentive Plan, the Administrator, in its sole discretion, shall determine the time or times when Awards may be vested. The
vesting period for part of the RSUs granted to the Grantees is shorter than 12 months because the RSUs granted under the RSU Grants have a mixed vesting schedule, such that the relevant RSUs vest evenly over a period of four years. |