GIUSEPPE(SZ:002687) Zheng Quan Zhi Xing·2025-06-20 08:22Core Viewpoint - The announcement details the completion of the second unlock period for the reserved grant of the 2021 restricted stock incentive plan of Zhejiang George White Garment Co., Ltd, allowing 71.9122 million shares to be listed for trading, which accounts for approximately 0.1425% of the company's total share capital [1][14]. Summary by Sections Incentive Plan Overview - The 2021 restricted stock incentive plan includes a total of 1,019.00 million shares for the initial grant, representing 2.91% of the company's total share capital at the time of the plan's announcement, with 80% allocated for initial grants and 20% for reserved grants [1][8]. - The plan's effective period lasts up to 60 months from the first grant date until all shares are unlocked or repurchased [2]. Unlocking Conditions - The unlocking of restricted stocks is contingent upon the company not experiencing any negative audit opinions or failing to distribute profits as promised [4][5]. - The performance assessment for the unlocking of shares is based on company-level and individual-level evaluations, with specific revenue growth targets set for the years 2022 and 2023 [6][11]. Performance Assessment - The company-level performance targets require a revenue growth rate of at least 32% for 2022 and 12% for 2023, based on audited consolidated financial statements [6][11]. - Individual performance evaluations categorize participants into six levels (A to F), determining the percentage of shares that can be unlocked based on their performance scores [7][13]. Approval Process - The plan has undergone various approvals, including board meetings and supervisory committee reviews, ensuring compliance with legal and regulatory requirements [8][9][10]. Unlocking Details - The second unlock period for the reserved grant is set from June 9, 2025, to June 5, 2026, with a 50% unlock ratio [10]. - The total number of shares to be unlocked is 71.9122 million, with 52 eligible participants [12][14]. Share Capital Structure Changes - Following the unlocking, the structure of the company's share capital will change, with the number of restricted shares decreasing from 91,949,627 to 91,230,505, while unrestricted shares will increase correspondingly [12][14].