LIHUA(300761) Zheng Quan Zhi Xing·2025-06-08 08:18Core Viewpoint - The announcement details the first vesting results of the 2022 restricted stock incentive plan for Jiangsu Lihua Food Group Co., Ltd, indicating that a total of 9.62514 million shares will be vested on June 10, 2025, with no lock-up period for the vested shares [1][2][3]. Summary by Sections Incentive Plan Overview - The 2022 restricted stock incentive plan was approved by the board and shareholders, targeting directors, senior management, and key technical/business personnel, excluding independent directors and supervisors [2][3]. - The total number of shares granted under the plan is 1,035.80 million, with 13.68% reserved for future grants [3][4]. Vesting Details - The first vesting date is set for June 10, 2025, with a total of 9.62514 million shares to be vested, representing 1.16% of the company's total share capital [1][2]. - The number of individuals eligible for this vesting is 511, with 446 receiving shares from the initial grant and 116 from the reserved grant [1][2]. Conditions for Vesting - The vesting of restricted stocks is contingent upon meeting specific performance criteria, including financial performance metrics over the 2022-2024 period [10][26]. - The company must achieve a cumulative net profit of no less than 2 billion yuan or a revenue growth rate of at least 25% based on 2021 figures [26]. Changes in Grant and Vesting - The initial grant amount was adjusted from 1,033.40 million shares to 1,860.12 million shares, with the grant price revised from 20.73 yuan to 10.27 yuan per share [16][19]. - Following the adjustments, the number of individuals eligible for the initial grant decreased from 503 to 471 due to various reasons, including resignations and performance evaluations [19][28]. Legal and Compliance Aspects - The company has complied with relevant laws and regulations regarding the incentive plan, and the adjustments and vesting have received necessary approvals [37]. - The vested shares will not have a lock-up period, but there are restrictions on the transfer of shares by directors and senior management [34][36].