BLB(SZ:002286) Zheng Quan Zhi Xing·2025-06-09 12:36Core Points - The company has approved the first grant of restricted stock under the 2025 Restricted Stock Incentive Plan, with a grant date of June 9, 2025, and a total of 10.35 million shares to be granted at a price of 3.92 yuan per share to 50 eligible participants [1][12]. Summary by Sections Incentive Plan Overview - The incentive plan was approved by the company's board on April 24, 2025, and by the annual shareholders' meeting on May 20, 2025 [1]. - The plan includes directors, senior management, core management, core technical personnel, and other personnel deemed necessary for motivation, excluding independent directors and shareholders holding more than 5% of the company's shares [1]. Grant Details - The total number of shares granted represents 3.00% of the company's total share capital of 369.7674 million shares, with the first grant accounting for 93.24% of the total rights to be granted under the plan [2]. - The plan includes a reserved portion of 750,000 shares, which is 0.20% of the total share capital [2]. Vesting Schedule - The vesting schedule for the restricted stock includes three phases over 48 months, with specific percentages of shares becoming unrestricted at designated intervals [3]. - The first unlock period allows for 40% of the shares to be released after 12 months, followed by 30% after 24 months, and the final 30% after 36 months [3]. Performance Assessment - The performance assessment for the incentive plan spans three fiscal years (2025-2027), with specific net profit targets set for each year [4][5]. - For the first unlock period in 2025, the net profit target is set at no less than 170 million yuan [5]. Individual Performance Criteria - Individual performance assessments will be based on the company's internal performance management system and KPI indicators, with results categorized into five levels [5]. - The proportion of shares that can be unlocked is contingent on the individual's performance rating, with stricter conditions for those rated as "not competent" [5]. Legal and Compliance - The company has confirmed that all 50 participants meet the eligibility criteria set forth in the incentive plan and relevant regulations [11]. - A legal opinion has been issued confirming that the grant complies with applicable laws and regulations [12]. Financial Impact - The company will recognize the cost of the restricted stock grants in its financial statements, with the expense being amortized over the vesting period [9]. - The funds raised from the incentive plan will be used to supplement the company's working capital [10]. Stock Trading Compliance - A self-examination confirmed that no participating directors or senior management traded company stock in the six months prior to the grant date [10].