JONES TECH PLC(SZ:300684) Zheng Quan Zhi Xing·2025-06-12 13:15Core Viewpoint - The company has established a 2025 Employee Stock Ownership Plan (ESOP) to enhance employee engagement and align their interests with the company's long-term performance [1][2]. Summary by Sections General Principles - The ESOP is designed to comply with relevant laws and regulations, ensuring transparency and preventing insider trading [1][2]. - Participation in the ESOP is voluntary, with no forced allocation to employees [2]. - Participants bear their own risks, with equal rights to other investors [2]. Participant Eligibility - Eligible participants include key personnel such as directors, supervisors, senior management, and core technical/business staff, with a maximum of 55 participants [3][4]. - The total stock involved in the ESOP is capped at 750,000 shares, representing 0.25% of the company's total share capital [3]. Stock Source and Funding - Shares for the ESOP will be sourced from the company's repurchased A-shares [3][4]. - Funding for the ESOP will come from employees' legal salaries and self-raised funds, with no financial assistance from the company [4]. Duration and Lock-up Period - The ESOP will have a maximum duration of 24 months, with shares unlocking in two phases after a 12-month lock-up period [4][5]. - Specific trading restrictions are in place during certain periods, such as before financial report announcements [5][6]. Performance Assessment - The performance assessment for the ESOP will occur over two fiscal years (2025-2026), with specific revenue and profit growth targets set for each year [6][7]. - The assessment will determine the proportion of shares that participants can claim based on company performance [7]. Management and Governance - The ESOP will be managed by a committee elected by the participants, ensuring that all holders have a say in the management of the plan [10][11]. - The board of directors is responsible for drafting and modifying the ESOP, with oversight from the shareholders [11][12]. Changes and Termination - Any changes to the ESOP require approval from at least two-thirds of the participants [15]. - The ESOP can be terminated upon completion of its duration or if all shares are sold [15][16]. Rights and Dispositions - Participants have rights to the economic benefits of the shares held in the ESOP, but cannot transfer or pledge their shares during the lock-up period [17][18]. - The management committee has the authority to manage the distribution of shares and any cash dividends received during the plan's duration [18][19].