WDM(600055) Zheng Quan Zhi Xing·2025-05-21 11:42Core Viewpoint - The report discusses the adjustments and initial grant related to the stock option incentive plan of Beijing Wandong Medical Technology Co., Ltd. for 2025, highlighting the approval process and compliance with relevant regulations [1][2][6]. Summary by Sections Definitions - The report defines key terms such as "incentive plan," "grant date," "exercise price," and "exercise conditions," which are essential for understanding the stock option incentive plan [1]. Approval Process - On March 20, 2025, the company's board of directors approved the draft of the stock option incentive plan and related management measures [3]. - The supervisory board also approved the plan on the same day, confirming the list of incentive objects [4]. - The plan was publicly announced from March 28 to April 8, 2025, with no objections raised by employees [4]. - The annual shareholders' meeting on April 16, 2025, approved the plan, granting the board the authority to manage related matters [4]. Adjustments to the Incentive Plan - On May 21, 2025, the board and supervisory board approved adjustments to the initial grant list, reducing the number of incentive objects from 87 to 85 and the total stock options from 10.8 million to 9.6 million [5][7]. - The exercise price was adjusted from 15.18 yuan to 15.05 yuan following the completion of the 2024 profit distribution [8]. Compliance and Fairness - The independent financial advisor confirmed that the adjustments and grants comply with the relevant regulations and do not harm the interests of shareholders [9][11]. - The report emphasizes that the conditions for granting stock options have been met, and the incentive objects are valid [7][11]. Financial Impact - The financial advisor suggests that the company should account for the costs associated with the stock option plan in accordance with accounting standards, noting potential dilution effects [11]. Conclusion - The independent financial advisor concludes that the adjustments and initial grants of the stock option incentive plan have received necessary approvals and comply with legal requirements, ensuring no detriment to the company or its shareholders [11].