The proposed grant, representing roughly 6.58% of the company's Class B shares, mandates that Zhang maintain his leadership roles throughout the four-year vesting period. To satisfy the performance criteria, Bairong AI must sustain specific valuation levels for defined periods, culminating in a requirement to hit HK$10 billion for 183 consecutive trading days to trigger the final tranche of awards. The arrangement also includes a 24-month lock-up period for vested shares and a clawback provision for misconduct, designed to ensure management remains focused on long-term enterprise value.
The board and remuneration committee justified the move by citing Zhang’s role in developing the company’s RaaS (Result-as-a-Service) model and its proprietary voice foundation models. By linking rewards directly to market performance, the firm aims to minimize conflicts of interest between the founder and external shareholders. Because the grant exceeds standard regulatory thresholds, it remains subject to approval by independent shareholders at an upcoming extraordinary general meeting.

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