Baozun Inc. announced that on 21 May 2026 it granted and proposed to grant a total of 150,000 restricted share units (RSUs) under its 2022 Share Incentive Plan. The awards, equivalent to 50,000 American depositary shares, represent 0.09% of the company’s total issued share capital (excluding treasury shares) on the grant date.

The RSU allocation is as follows: Independent directors Yiu Pong Chan, Steve Hsien-Chieng Hsia and Benjamin Changqing Ye each receive 42,000 units (0.02% of issued shares apiece), while executive director Bin Yu is awarded 24,000 units (0.01%).

No purchase price is required for the shares issued upon vesting. The closing prices on the grant date were HK$6.73 per Class A share on the Hong Kong Stock Exchange and US$2.54 per ADS on Nasdaq (20 May 2026 U.S. time).

Vesting for the three independent directors is scheduled evenly over four years at 10,500 RSUs per anniversary of the grant date. Bin Yu’s award vests in tranches of 10,500 units on 21 May 2027 and 21 May 2028, with a final 3,000-unit tranche on 21 May 2029.

Clawback clauses allow forfeiture if a grantee violates group policies, applicable laws, or engages in misconduct that harms the company. No financial assistance will be provided to facilitate share purchases.

Board approval was obtained in accordance with Listing Rule 17.04(1); each director abstained from voting on the grant to himself or herself. Following this issuance, only two shares remain available for future grants under the 2022 Plan.