Company: NOAH
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0001410578-25-000852
Chunk: 325

Company: NOAH HOLDINGS LTD
Filing Date: 2025-04-24
Form: 20-F
Item: Item 16K
Chunk 325
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14,937  

During the year ended December 31, 2017, the Group adopted its 2017 share incentive plan (the “2017 Plan”). Under the 2017 Plan, the maximum aggregate number of shares in respect of which options, restricted shares, or RSUs may be issued shall be2,800,000shares. The term of any options, restricted shares, or RSUs granted under the 2017 Plan shall not exceedten years. Options, restricted shares or RSUs generally vest25% on the first anniversary of the grant date with the remaining75% vesting ratably over the following36 months.

During the year ended December 31, 2022, the Group adopted its 2022 share incentive plan (the “2022 Plan”). Under the 2022 Plan, the maximum aggregate number of shares in respect of which options, restricted shares, or RSUs may be issued shall be3,000,000shares. The term of any options, restricted shares, or RSUs granted under the 2022 Plan shall not exceedten years. Options, restricted shares or RSUs generally vest25% on the first anniversary of the grant date with the remaining75% vesting ratably over the following36 months.

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Table of Contents

On December 29, 2023, the Group granted223,297RSUs (“ Replacement RSUs”) to the employees in consideration of the cancellation of669,898options previously granted to them respectively, which resulted in an acceleration of vesting of certain RSUs based on the modified vesting schedule. The Company determined that the cancellation of options accompanied by the concurrent grant of Replacement RSUs should be accounted for as a modification of the terms of the cancelled options (the “ Modification”). Incremental compensation cost was measured as the excess of the fair value of the Replacement RSUs over the fair value of the cancelled options at the cancellation date, December 29, 2023.

Incremental compensation cost due to the Modification was RMB5,079, including expenses of RMB4,103related to vested restricted share units which is recognized immediately as of date of modification, and expenses of RMB976related to the restricted share units not yet vested which will be recognized over the remaining vesting period. An expense of RMB13,487was recognized upon the Modification due to the acceleration of vesting for the year ended December 31, 2023.

Share Options:

The weighted-average grant-date fair value of options granted during the