Incentive Plan Overview - The 2020 incentive plan approved the issuance of 6 million restricted shares, accounting for 0.31% of the total share capital of 1,950 million shares as of June 29, 2020[3]. - The plan allocated 5 million shares for initial grants, representing 83.33% of the total shares to be granted under the plan[3]. - As of December 31, 2022, a total of 1,060,000 shares were exercised under the 2020 incentive plan, leaving 3,320,000 shares available[5]. - As of June 30, 2023, the total number of shares available under the plan decreased to 3,180,000 after 140,000 shares were exercised[6]. - The remaining validity period of the 2020 incentive plan is approximately 3 years and 7 months as of the announcement date[4]. Objectives and Strategy - The incentive plan aims to enhance corporate governance and attract key personnel, aligning interests among shareholders, the company, and the core team[2]. - The plan is designed to improve the core competitiveness of the company and ensure the achievement of long-term development goals[2]. - The incentive plan is part of the company's strategy to retain and motivate mid-to-senior management and key technical personnel[2]. Share Restrictions and Lifting - The maximum number of shares any participant can receive under the plan does not exceed 1.00% of the company's total share capital[4]. - The first unlock period for the restricted shares begins 12 months after the grant date, allowing for a 20% release of shares[7]. - The lifting of restrictions on the shares is considered a reward for past contributions to the group and aims to incentivize continued contributions to the group's operations and long-term growth[10]. - The lifting of restrictions will occur in five phases, with each phase allowing for 20% of the shares to be released[8]. - The first lifting period starts 12 months after the grant date and ends 24 months after the grant date[8]. - The second lifting period starts 24 months after the grant date and ends 36 months after the grant date[8]. - The third lifting period starts 36 months after the grant date and ends 48 months after the grant date[8]. - The fourth lifting period starts 48 months after the grant date and ends 60 months after the grant date[8]. Share Pricing - The weighted average closing price of restricted shares before the lifting of restrictions was RMB 41.16[9]. - The weighted average closing price of restricted shares before the lifting of restrictions was RMB 30.46[10]. Grant Availability - As of January 1, 2022, and December 31, 2022, there were zero restricted shares available for grant under the 2020 incentive plan[10]. - The Compensation Committee approved the lifting of restrictions on the second tranche of 20% restricted shares and the first tranche of 20% reserved shares under the 2020 incentive plan[10].
福莱特玻璃(06865) - 2023 - 年度业绩