MiniMax Grants Over HK$600 Million in Equity Incentives: Zhao Pengyu Receives HK$129 Million Alone, No Performance Assessment Requirements

Hong Kong-listed firm MiniMax (0100.HK, listed entity: MiniMax Group Inc.) announced that it has granted a total of 1,168,776 share awards under its post-initial public offering share incentive plan, corresponding to an equal number of newly issued Class A ordinary shares. Based on the grant-day closing price of HK$515 per share, the total value of the awards is approximately HK$602 million, with no required purchase price. Executive Director and Head of Large Language Model Research & Engineering Zhao Pengyu received 250,000 share awards, valued at around HK$129 million at the day’s stock price; the remaining awards are allocated to the company’s employees and service providers respectively. The total vesting period for employee awards ranges from 13 to 72 months, while service provider awards have a vesting period of 12 to 44 months; Zhao’s total vesting period is approximately 66 months. The announcement notes that all awards have no performance targets for vesting, but include a clawback mechanism. If grantees engage in serious misconduct, fraud, or are involved in material misstatements in financial statements, the company has the right to recover proceeds or forfeit vested awards. The large-scale equity incentive indicates that MiniMax is continuing to ramp up talent investment, binding core teams with long-term equity to enhance its long-term talent competitiveness. Co-founder and CEO Yan Junjie once stated in an interview that his team management logic is “pay more money, don’t wait for results, pay now”. Click the original link below to join the Beating · Feishu AI News channel, which monitors global AI hotspots and news 24/7.