NetEase Cloud Music Inc. (abbreviation: NetEase Music) announced the grant of 14,205 restricted share units (RSUs) to two employee participants on 28 May 2026 under its 2022 Restricted Share Unit Plan. The awards will be settled with existing shares.

The RSUs carry a nil purchase price and were granted at a market reference price of HK$119.60 per share, reflecting the stock’s closing price on the grant date. Vesting spans three years, beginning 1 June 2026, with one-third of the awards vesting each year, subject to the employees meeting predetermined annual performance thresholds.

Safeguards include a clawback mechanism: if misconduct or other specified breaches occur, any unvested or outstanding awards will lapse, reserved shares will be forfeited, and previously transferred shares (or their cash equivalent) may be reclaimed. Grantees obtain no dividend or voting rights until vesting and settlement of the RSUs.

Following this grant, 10.46 million new shares remain available for future awards under the 2022 Plan. The company confirmed that none of the grantees exceed the individual 1% limit stipulated by Hong Kong Listing Rules, are related entity participants, or have received financial assistance to acquire the shares.