Gigadevice (ASX: 03986) has announced the completion of a cancellation process for a number of its outstanding stock options.

The company's board of directors approved the proposal to cancel a portion of stock options and repurchase and cancel certain restricted shares during a meeting held on April 29, 2026.

The decision was made due to reasons such as the departure of certain incentive recipients and the failure to meet some personal performance targets.

As a result, a total of 676,485 stock options granted in 2020, 2021, 2023, and 2024, which had not yet been exercised, have been voided.

The company submitted the application for this cancellation to the China Securities Depository and Clearing Corporation Limited, Shanghai Branch.

Following review and confirmation by the clearing agency, the cancellation procedure was finalized on June 25, 2026.

This action to cancel the stock options does not have any impact on the company's total share capital.