Company: FENG
Filing Date: 2025-04-18
Form Type: 20-F
Source: 0000950170-25-055759
Chunk: 120

Company: Phoenix New Media Ltd
Filing Date: 2025-04-18
Form: 20-F
Item: Item 6
Chunk 120
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 other restrictions as set forth in the plan and, as applicable, in the award agreements.
Transfer Restrictions. The right of a grantee in an award granted under the share incentive plans may not be transferred in any manner by the grantee other than by will or the laws of succession and, with limited exceptions, may be exercised during the lifetime of the grantee only by the grantee.
Acceleration upon a Takeover Offer. If a takeover offer for our company becomes unconditional or is approved by the necessary number of shareholders, as the case may be, the vesting of the awards shall be accelerated.
Termination and Amendment. The board of directors of our company have the authority to amend or terminate the share incentive plans, subject to shareholder approval to the extent necessary to comply with applicable law. In addition, shareholders of our company may, by ordinary resolution, terminate the share incentive plans at any time.
Lapse of Awards. An award will lapse if the optionee ceases to be eligible by reasons of, among other things, (i) illness, injury, disability or death; (ii) retirement; (iii) voluntary resignation; (iv) termination of employment for serious misconduct; and (v) breach of contract.
We granted awards to our employees, directors and consultants under the share incentive plans in November 2008, July 2009, September 2009, January 2010, July 2010, March 2011, March 2013, May 2013, October 2013, December 2013, March 2014, June 2014, July 2014, October 2014, July 2015, October 2016, September 2017, November 2017, January 2018, April 2018, July 2018, July 2019, July 2020, January 2021 and June 2021.
With the approvals of the board of directors and shareholders of us and Phoenix TV, we implemented an option exchange program from October 21, 2016 to November 1, 2016 whereby our directors, employees and consultants exchanged options to purchase 21,011,951 Class A ordinary shares granted under the 2008 share option plan with various exercise prices greater than US$0.4823 per share (or US$23.1504 per ADS, which already reflected the change of ADS ratio that took effect on May 23, 2022) for new options granted under the same plan with a new exercise