InnoCare Pharma (SHA:688428, HKG:9969) approved the vesting of shares under a stock incentive plan and the cancellation of granted but unvested shares, according to a Tuesday filing with the Shanghai bourse.

The company will vest more than 2.4 million restricted shares granted to 74 recipients.

InnoCare will cancel 157,000 shares that are granted but unvested, as the four recipients have departed InnoCare, and cancel 167,000 restricted shares.