Avary Holding(SZ:002938) Shang Hai Zheng Quan Bao·2025-04-08 23:18Core Viewpoint - The company has approved the repurchase and cancellation of a total of 509,800 restricted stocks from the 2021 and 2024 stock incentive plans due to various reasons including the departure of incentive targets and unmet performance conditions [1][10][33]. Summary by Sections Stock Incentive Plan Implementation Overview - The 2021 restricted stock incentive plan was approved on May 12, 2021, with a total of 10.085 million shares granted to 287 incentive targets [3][4]. - The company has previously repurchased and canceled stocks from this plan due to the departure of incentive targets and performance evaluations [5][6][10]. Reasons for Repurchase and Cancellation - For the 2021 plan, 64,000 shares will be repurchased due to 6 incentive targets leaving the company [15]. - An additional 10,000 shares will be repurchased from 1 target who did not meet performance conditions [16]. - A total of 335,800 shares will be repurchased due to the company not meeting its performance targets for the fourth unlock period [17][18]. - For the 2024 plan, 100,000 shares will be repurchased due to 4 incentive targets leaving the company [20]. Repurchase Price and Funding Source - The repurchase price for the 2021 plan is set at 16.44 yuan per share, while for the 2024 plan, it is 17.70 yuan per share [21]. - The funding for both repurchases will come from the company's own funds [22][23]. Impact on Company Structure - Following the repurchase, the company's total share capital will decrease from 2,318,560,816 shares to 2,318,051,016 shares [24][33]. - The company maintains that this repurchase will not significantly impact its financial status or operational results [25]. Committee Opinions - The remuneration and assessment committee has unanimously approved the repurchase plan, confirming compliance with relevant regulations [26][27]. - The supervisory board also supports the repurchase, citing the reasons for the cancellation of shares [28][29].