Cloudbreak Pharma Inc. (2592) announced on 22 October 2025 the grant of 5,000,000 restricted share units (RSUs) under its Post-IPO Equity Incentive Scheme. The RSUs were awarded to Whitcup Life Sciences LLC, a consultant that provides research, development, and other professional services. According to the announcement, the proposed purchase price is US$0.0001 per underlying share, and there is no exercise price.

The RSUs will vest only if both the continuous service and performance benchmarks are met on or before 22 October 2032. The service requirement calls for remaining in service for five anniversaries following the Grant Date. The performance milestones are tied to successful completion of specific regulatory steps for CBT-004 and CBT-001. Any unvested RSUs at the end of the vesting window will lapse. The Directors indicated that this grant, which exceeds 0.1% of the total issued share capital as of the Grant Date, seeks to align the interests of Whitcup Life Sciences LLC with the long-term enhancement of the Company’s value.

Upon this grant, 74,605,098 shares remain available for future awards under the scheme mandate, while 3,388,928 shares remain under the service provider sublimit. The Board noted that this arrangement recognizes Whitcup Life Sciences LLC’s contributions and aims to encourage sustained collaboration as part of Cloudbreak Pharma Inc.’s continued growth and development.