MiniMax grants over HK$600 million in equity incentives: Zhao Pengyu receives HK$129 million alone, with no performance assessment requirements attached.

Hong Kong-listed firm MiniMax (0100.HK, listed entity: MiniMax Group Inc.) announced that it has granted a total of 1,168,776 share awards under its post-IPO share incentive plan, corresponding to an equal number of newly issued Class A ordinary shares. Valued at HK$515 per share on the grant date’s closing price, the total award is worth approximately HK$602 million, with no required purchase price. Among these, Zhao Pengyu, executive director and head of large language model (LLM) research and engineering, received 250,000 share awards worth around HK$129 million based on the same day’s stock price; the remaining awards were granted to the company’s employees and service providers respectively. The vesting period for employee awards ranges from 13 to 72 months, while service providers’ awards have a vesting period of 12 to 44 months, with Zhao’s total vesting period at approximately 66 months. The announcement noted that none of the awards are tied to performance targets, though a clawback mechanism is implemented: in cases where grantees engage in serious misconduct, fraud, or are involved in material financial statement misstatements, the company reserves the right to recover proceeds or forfeit vested awards. The large-scale equity incentive signals MiniMax’s continued focus on talent investment, using long-term equity to align core teams and boost long-term talent competitiveness. Co-founder and CEO Yan Junjie once stated in an interview that his team management philosophy is: “Distribute more funds now, before achieving results.” Click the original link below to join the Dongcha Beating · Feishu AI News channel, which monitors global AI hotspots and news 24/7.