Company: NOAH
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0001410578-25-000852
Chunk: 217

Company: NOAH HOLDINGS LTD
Filing Date: 2025-04-24
Form: 20-F
Item: Item 6
Chunk 217
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 flexibility to us in our ability to motivate, attract, and retain the services of members of the board, employees, and service providers upon whose judgment, interest, and special effort the successful conduct of our operation is largely dependent.
The 2022 Plan
Under the 2022 Plan, the maximum number of shares in respect of which options, restricted shares, or restricted share units and other forms of share awards may be granted is 3,000,000 ordinary shares, which we refer to as the scheme mandate limit. Within the scheme mandate limit, the maximum aggregate number of Shares which may be issued pursuant to all Awards to be granted to service providers under the 2022 Plan initially as of the date of approval of the 2022 Plan shall be 60,000. As of December 31, 2024, there were no options to purchase ordinary shares outstanding, and 957,083 restricted shares had been issued and were outstanding under the 2022 Plan.

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Types of Awards. The following briefly describes the principal features of the various awards that may be granted under the 2022 Plan.

●   Options. Options provide for the right to purchase a specified number of our ordinary shares at a specified price and usually will become exercisable at the discretion of our plan administrator in installments after the grant date. The option exercise price shall be paid in cash. The vesting period of an award of option shall not be less than 12 months from the date of such award.
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●   Restricted Shares. A restricted share award is the grant of our ordinary shares which are subject to certain restrictions and may be subject to risk of forfeiture. Unless otherwise determined by our Committee, a restricted share is nontransferable and may be forfeited or repurchased by us upon termination of employment or service during a restricted period. Our Committee may also impose other restrictions on the restricted shares, such as limitations on the right to vote or the right to receive dividends.
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●   Restricted Share Units. A restricted share unit is a grant valued in terms of our ordinary shares, but shares are not issued at the time of the grant. After the recipient of a unit satisfies the vesting requirement, we will distribute shares or the cash equivalent of the number of shares used to value the unit, depending on the terms of the award. Vesting requirements are determined by our Committee, but shall not less than 12 months from the date of grant of such Award.
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