Vesting condition and periods |
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The RSUs shall be subject to a service-based vesting condition.
Subject to the terms of Senior Management Grant and the 2019 Equity Incentive Plan, the RSUs granted under the Senior Management Grant shall vest in accordance
with the following schedule: 25% of the RSUs granted shall become service-vested on
each anniversary of the vesting commencement date, which shall be July 1, 2023, for four (4) years after the grant.
Subject to the terms of Employee Grants and the 2019 Equity Incentive Plan, the RSUs granted under the Employee Grants shall vest in accordance with the
following schedule: (i) for a portion
of the RSUs representing 62.622% of the RSUs under the Employee Grants shall vest in equal portions on July 1, 2024, July 1, 2025, July 1, 2026 and July 1, 2027, respectively.
(ii) for a portion of the RSUs
representing 0.378% of the RSUs under the Employee Grants shall vest in equal portions on October 1, 2023, October 1, 2024, October 1, 2025 and October 1, 2026, respectively.
(iii) for a portion of the RSUs
representing 37% of the RSUs under the Employee Grants, 25% of which shall vest on July 1, 2024, and the remaining 75% shall vest in equal portions of 6.25% on October 1, 2024, January 1, 2025, 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 and July 1, 2027, 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 employees is shorter than 12 months because the RSUs granted under the Employee Grants have a mixed vesting schedule, such that the
relevant RSUs vest evenly over a period of four years. |