Stock Incentive Plans - The 2019 Hefei Weitian stock incentive plan aims to attract and retain key employees and directors, remaining effective until all options vest or expire, not exceeding 72 months[1]. - The maximum entitlement per participant in the 2019 Hefei Weitian stock incentive plan is not capped[4]. - The plan includes rewards for directors and senior management, with specific vesting conditions tied to the company's IPO[5]. - The 2020 Hefei Weitian equity incentive plan allows for a total of 515,015 restricted shares to be granted, which translates to 8,240,240 shares post-split[9]. - The 2021 Hefei Weitian equity incentive plan allows for a total of 742,000 restricted shares to be granted, which translates to 11,872,000 shares post-split[14]. - The purpose of both incentive plans is to attract and retain employees deemed critical to the company's success[8][13]. Restricted Shares and Vesting - As of December 31, 2023, there are 8,000 restricted shares pending grant under the 2019 Hefei Weitian stock incentive plan, representing approximately 0.0006% of the total issued shares[3]. - The vesting period for Hefei Weitian options ranges from 19 to 55 months, with 25% vesting at various intervals post-grant[5]. - The total number of restricted shares granted under the plan amounts to 2,684,300, with a fair value of RMB 42,948,800[6]. - As of December 31, 2023, there are 1,012,800 restricted shares remaining to be granted under the 2020 plan, accounting for approximately 0.07% of the total issued shares[9]. - As of December 31, 2023, there are 32,000 restricted shares remaining to be granted under the 2021 plan, accounting for approximately 0.0023% of the total issued shares[14]. - The vesting period for the 2020 restricted shares is generally between 2 to 5 years, with 25% vesting at various intervals[11]. - The restricted shares granted to senior management under the 2021 Hefei Weitian equity incentive plan will vest 12 months after the IPO date[16]. - 25% of the rewards for employees other than senior management will vest after 2 years from the grant date, with subsequent 25% vesting each year thereafter for a total of 5 years[16]. Forfeitures and Cancellations - A total of 848,000 restricted share awards were forfeited due to employee departures during the fiscal year ending December 31, 2023[7]. - A total of 720,000 restricted shares were forfeited due to employee departures as of December 31, 2023, with no grants being canceled or invalidated[12]. - As of December 31, 2023, a total of 272,000 restricted share rewards were forfeited due to employee departures[17]. - No restricted share awards were canceled or expired during the fiscal year ending December 31, 2023[7]. - No restricted share rewards granted under the 2021 Hefei Weitian equity incentive plan were canceled or expired as of December 31, 2023[17]. Grant Prices and Fair Value - The fair value of restricted shares is calculated based on the market price on the grant date minus the grant price[7]. - The grant price for shares before the split was RMB 2.50, and after the split, the weighted grant price is RMB 0.15625[5]. - The grant price per share before the stock split was RMB 2.50, and after the stock split, the weighted grant price per share is RMB 0.15625[16]. - The fair value of the restricted shares is calculated based on the market price of the company's shares on the respective grant dates minus the grant price[17]. Governance and Reporting - The company’s board of directors includes both executive and non-executive members, ensuring diverse governance[17]. - The report is signed by the chairman and executive director, Feng Lei, indicating official endorsement of the information presented[17]. - Only one of the five highest-paid individuals received rewards under the 2021 Hefei Weitian equity incentive plan as of December 31, 2023[17]. - The total number of restricted shares granted as of December 31, 2023, is 11,840,000[16].
维天运通(02482) - 2024 - 年度业绩