24X expands warrant incentive plan adding 22.25% equity to pool
24X National Exchange filed a proposed rule change with the SEC to expand its warrant performance incentive program, extend it to June 2028 and lower the entry cost to $250,000.
24X National Exchange filed a proposed rule change (SR-24X-2026-26) with the U.S. Securities and Exchange Commission to expand its warrant performance incentive program for exchange participants, according to zdnet.co.kr. The change takes effect immediately as of October 1, 2026, with no retroactive application.
The expansion adds 22.25% of 24X US Holdings on a fully diluted basis to the program's share pool. The program would be extended through June 30, 2028, with vesting possible in two new quarterly measurement periods starting in 2027.
Member firms wanting only the newly added shares will pay an entry cost of $250,000, down from $500,000. Vesting under the program no longer uses an exchange market-share metric and is instead based on a member's trading volume tied directly to 24X equity.
Background
24X National Exchange was the first national securities exchange approved by the SEC to trade U.S. equities 23 hours a day on weekdays. Under the original program running through December 31, 2027, the exchange offered 10% of voting-free equity in parent 24X US Holdings on a fully diluted basis. The exchange expects to begin its official 23-hour weekday trading on December 6.
Quick answers
What is the entry cost for member firms under the expanded 24X program?
Entry cost for member firms wanting only the newly added shares drops from $500,000 to $250,000.
When does the expanded 24X warrant performance incentive program end?
The program would be extended through June 30, 2028, with vesting possible in two new quarterly measurement periods starting in 2027.
How is vesting determined under the expanded 24X program?
Vesting no longer uses an exchange market-share metric and is instead based on a member's trading volume tied directly to 24X equity.