Share-based compensation |
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| Share-based compensation | 19. Share-based compensation Stock options On December 9, 2016, the Board of Directors of High Templar Tech Limited approved the 2016 Equity Incentive Plan (the “2016 Plan”). All the share options granted under the 2016 Plan were vested over 3 to 5 years. The 2016 Plan expires 10 years from the date of the grant. The Company reserved 1,000,000 shares for issuance under the 2016 Plan. The exercise price for such options is RMB 0.0006 (US$ 0.0001) per share. The Company has set up the Share Based Payment Trust for the purpose of holding options awarded to certain employees and underlying shares before they are exercised as instructed by the employees. Shares options held by Share Based Payment Trust are legally outstanding upon satisfaction of vesting conditions. The Company estimated the fair value of the options based on the quoted share price at grant date. Due to the options’ di minimis exercise price, the various assumptions used in the binomial option pricing model will not have a material impact in the calculation of the fair value of the options. The Company recognized compensation cost for the share options on a graded vesting basis. The total share-based compensation expenses recognized by the Company for the share option granted were RMB 4,935,782, RMB 2,257,795 and RMB nil (US$ nil) for the years ended December 31, 2023, 2024 and 2025, respectively. A summary of share option activities under the 2016 Plan for the years ended December 31, 2024 and 2025 is as follows:
19. Share-based compensation - continued Stock options - continued The aggregate intrinsic value in the table above represents the difference between the exercise price and the Company’s closing stock price on the last trading day in 2023, 2024 and 2025, respectively. The total intrinsic value of options exercised for the years ended December 31, 2023, 2024 and 2025 was RMB 3,056,001, RMB 3,938,396 and RMB 4,685,077 (US$ 669,957) respectively. The total fair value of shares vested during the years ended December 31, 2023, 2024 and 2025 was RMB 29,797,645, RMB 2,257,960 and RMB nil (US$ nil), respectively. For the years ended December 31, 2023, 2024 and 2025, the Company allocated share-based compensation expense as follows:
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