Can executives sell shares acquired through stock options right after listing?

Under improvements made in 2022, shares that executives and others of a company applying for listing acquire after listing by exercising stock options granted before listing were also made subject to mandatory holding.

Shares acquired by exercising options during the mandatory holding period cannot be disposed of for the remainder of that period. Companies were also encouraged to set differentiated mandatory holding periods for each person concerned, adding up to 2 years to the basic 6 months, and to disclose these in the securities registration statement and other documents.