Sina Tech, 11/24/11
According to a leaked internal memo, Chinese group buy site Meituan has issued 500 stock options to each contracted employee who has been with the company for at least 6 months as of November 1. The strike price for each share has been set at USD 0.96.
The options become fully vested after four years, with 25% vesting after the first year and, subsequently, an additional 1/16 vesting after each additional fiscal quarter.
Meituan denied that the move is an indication that the company is preparing to IPO.
Editor's Note: For more information on this topic, please see "Rumor: Meituan Launches Share Incentive Plan," MD 8/04/11 issue.