Extrawell Pharmaceutical (HKG:0858) will grant 76.5 million share options to three executive directors under a 2022 incentive scheme, a Dec. 19 Hong Kong bourse filing said.

Shares of the pharmaceutical company were down over 4% in Monday afternoon trading.

The options are exercisable into 76.5 million ordinary shares at HK$0.0936 apiece for 10 years. The shares represent 3% of the firm's issued shares.

Following the grant, the company now has 162.5 million share options available for future grant under the existing scheme mandate limit.