SEP(SH:600021) Zheng Quan Zhi Xing·2025-05-26 11:22Core Viewpoint - The announcement details the achievement of the exercise conditions for the second exercise period of the first stock option incentive plan of Shanghai Electric Power Co., Ltd, allowing eligible participants to exercise their stock options [1][12]. Group 1: Stock Option Incentive Plan Overview - The first stock option incentive plan has been approved and implemented, with independent directors providing opinions on its benefits for the company's sustainable development [1][2]. - The plan includes a total of 113 eligible participants for the second exercise period, with a total of 4.8444 million stock options available for exercise at an adjusted price of 12.295 yuan per share [4][12]. Group 2: Exercise Conditions and Achievements - The second exercise period for the stock options is defined as the period from 36 months after the completion of the grant registration to the last trading day within 48 months [5][12]. - The company has met the performance assessment requirements, including a net asset return rate of 7.65% for 2023 and a compound growth rate of net profit from 2020 to 2023 [7][10]. Group 3: Individual Performance Assessment - Individual performance assessments for the 113 eligible participants are based on the company's internal evaluation methods, with specific performance grades determining the exercise ratio [10][11]. - The performance assessment results indicate that 5 directors and senior executives achieved a grade of "B" or above, while 108 other participants scored above 80 points [10][11]. Group 4: Board and Supervisory Opinions - The board's remuneration and assessment committee and the supervisory committee both agree that the exercise conditions for the second exercise period have been met, and they support the exercise of stock options for eligible participants [14][15]. Group 5: Financial and Legal Considerations - The company will account for the stock option expenses according to relevant accounting standards, and the exercise of options is not expected to significantly impact the company's financial status [16]. - Legal opinions confirm that the exercise conditions have been achieved and comply with relevant regulations [16][18].