MiniMax Grants Over HKD 600 Million in Equity Incentives: Zhao Pengyu Receives HKD 129 Million Witho

On June 23, Hong Kong-listed company MiniMax (0100.HK, listed entity MiniMax Group Inc.) announced that it has granted a total of 1,168,776 share awards under its post-IPO equity incentive plan, corresponding to an equal number of newly issued Class A ordinary shares. Based on the closing price of HKD 515 per share on the grant date, the total value of the awards is approximately HKD 602 million, with a purchase price of zero. Among these, Executive Director and Head of Large Language Model Research and Engineering Zhao Pengyu was awarded 250,000 shares, valued at approximately HKD 129 million based on the stock price on that day; the remaining awards were granted to company employees and service providers. The total vesting period for employee awards ranges from 13 to 72 months, while service providers have a vesting period of 12 to 44 months, with Zhao Pengyu's total vesting period being approximately 66 months. The announcement indicates that there are no performance targets for the vesting of any awards, but there is a clawback mechanism in place. If the grantee engages in serious misconduct, fraud, or is involved in significant misstatements in financial reports, the company reserves the right to recover profits or confiscate vested awards. This substantial equity incentive demonstrates that MiniMax continues to invest in talent, binding its core team with long-term equity to enhance long-term talent competitiveness. Co-founder and CEO Yan Junjie has openly stated in interviews that the management logic of his team is 'to give more money, not waiting for success, but to give it now.' Click the link below to join the Beating · Feishu AI news channel, which monitors global AI hotspots and news 24/7.