Pony AI (PONY) said Wednesday its chairman and CEO Jun Peng and co-founder and chief technical officer Tiancheng Lou have entered into voluntary extended lock-up agreements covering all of the company's share capital.

The extended lock-up agreements cover 110,828 class A ordinary shares and around 81.1 million class B ordinary shares, representing approximately 22.9% of the company's total issued and outstanding ordinary shares as of Wednesday, Pony AI said.

The extended lock-up agreements will be in effect for 540 days starting May 25, which is the expiration date of the initial public offering lock-up period, the company said.

Shares were 3% higher in recent premarket activity.