Company: DDC
Filing Date: 2025-10-24
Form Type: F-1
Source: 0001213900-25-102214
Chunk: 225

Company: DDC Enterprise Ltd
Filing Date: 2025-10-24
Form: F-1
Chunk 225
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 be made under the 2023 ESOP, including adjustments to the number of shares which have been authorized for issuance under the 2023 ESOP. Our board of directors will have the right to suspend or terminate the 2023 ESOP, in whole or in part, at any time, subject to applicable laws and requirements of any stock exchange or governmental or regulatory body (including any requirement for shareholder approval). No amendment or variation of the 2023 ESOP shall be effective unless entered into in writing and executed by the Company and participants of the plan representing no less than three quarters of the total number of vested options following which such amendment shall be binding on all participants. 2025 Warrant Program In June 2025, the Company held its annual general meeting where its shareholders approved the adoption of the 2025 Warrant Program to incentivize and retain key personnel by aligning their interests with those of shareholders. The 2025 Warrant Program authorizes the Board of Directors to issue Warrants to purchase Class A Ordinary Shares to eligible participants, including executive management, directors, and selected employees, at the Board’s discretion, in accordance with applicable laws and the Company’s governing documents. The Board considers that the 2025 Warrant Program incorporates several sound governance features to ensure fairness, transparency, and alignment with shareholder interests: Defined Eligibility Criteria:Warrants may only be issued to executive management, directors, and other employees selected by the Board, ensuring that awards are targeted to individuals critical to the Company’s strategic success and preventing indiscriminate grants. Performance -Based Incentives:The CEO’s Warrants in 2025 are tied to achieving significant market capitalization thresholds ($50 million, $100 million, and $250 million at the end of Q2, Q3, and Q4, respectively), aligning executive rewards with shareholder value creation and Company growth. Vesting and Forfeiture Provisions:Warrants vest after 90 days and lapse after ten years, encouraging long -termcommitment, provided however the board may specify an alternate vesting period. Unvested Warrants lapse for Non -RetainedLeavers (e.g., those dismissed for misconduct or during probation) or upon death, while Retained Leavers retain a pro -ratashare based on service time, ensuring fairness and discouraging poor performance or misconduct. 134 Non -Transferability :Warrants are generally non -transferable, except to a wholly -ownedcompany or with Board approval, preventing misuse and ensuring alignment with the original recipient