Company: DDC
Filing Date: 2025-10-24
Form Type: F-1
Source: 0001213900-25-102214
Chunk: 223

Company: DDC Enterprise Ltd
Filing Date: 2025-10-24
Form: F-1
Chunk 223
---
 to our executive officers and directors. We have also not made any agreements with our directors or executive officers to provide benefits upon termination of employment. Equity Incentive Plans Pre-IPO Employee Share Option Plan We approved an employee option plan from 2014 to 2022 in order to provide incentives and rewards to our directors, senior management and employees (the “Pre -IPOESOP”). Share options awarded under the Pre -IPOESOP are vested based on the service conditions up to four years agreed with each of the participants in their grant letters, with exercise prices ranging from US$0.0016 to US$30.6. In addition, the share options can only be exercised and converted into shares upon the completion of our initial public offering. Each share option has a contractual life of 10 years. As of December 31, 2024, a total of 1,825,729 options were granted and outstanding under the Pre -IPOESOP. 2023 Employee Share Option Plan We have adopted a new employee share purchase plan, or 2023 ESOP, for the purpose of granting share -basedcompensation awards to our employees, directors and consultants to incentivize their performance and align their interests with ours. The following discussion is qualified in its entirety by the full text of the 2023 ESOP. When adopted in November 2023, the 2023 ESOP authorized the issuance of 1,000,000 Class A Ordinary shares. In April 2024, the shareholders approved increasing shares available for grant under the 2023 ESOP to 3,200,000shares, and, in November 2024, the shareholders approved increasing shares available under the 2023 Plan to 5,200,000shares. Annually on January 1, shares are added to the 2023 Plan in an amount up to 10% of the Company’s issued and outstanding Class A Ordinary Shares as of December 31 of the prior year; provided that the total number of Class A Ordinary Shares which may be issued upon exercise of all options to be granted to all participants under the 2023 ESOP shall not in aggregate exceed 15% of the Company’s issued and outstanding Class A Ordinary Shares. We estimate that on January 1, 2025, approximately 6,600,000 additional shares were automatically added to the 2023 ESOP as a result of this provision. 133 In November 2024, holders of the following agreed to terminated their options