TGOOD(SZ:300001) Zheng Quan Zhi Xing·2025-07-01 16:41Core Viewpoint - The announcement details the achievement of conditions for the first unlock period of the 2023 restricted stock incentive plan by Qingdao Teruid Electric Co., Ltd, allowing 4,448,100 shares to be released from restrictions, representing 0.42% of the company's total share capital [1][11]. Summary by Sections Incentive Plan Overview - The 2023 restricted stock incentive plan was approved by the board on June 16, 2023, with a total of 15,187,000 shares granted to 711 middle management and key employees, accounting for 1.46% of the total share capital [2][4]. - The plan has a maximum duration of 60 months from the date of grant until all restricted stocks are either unlocked or repurchased [2]. Unlocking Conditions - The first unlock period lasts from 24 months after the grant date to 36 months after the grant date, allowing for a 30% release of the total restricted stock [6][7]. - The performance assessment for unlocking is based on the company's financial performance over the years 2024 to 2026, with specific targets set for net profit and revenue growth [3][6]. Performance Assessment - The performance assessment for unlocking includes both company-level and individual performance metrics, with individual performance scores determining the actual number of shares that can be unlocked [3][10]. - The performance score thresholds are set at four levels, with scores above 80% allowing for full unlocking [10][12]. Approval Process - The incentive plan underwent several approval processes, including independent opinions from directors and verification by the supervisory board [4][6]. - Legal opinions confirm that the unlocking conditions have been met and that the process complies with relevant regulations [12][13]. Specific Unlocking Details - A total of 686 individuals meet the conditions for unlocking, with 4,448,100 shares eligible for release [11]. - The company has also noted that 25 individuals have left the company and are no longer eligible for the incentive plan, leading to the repurchase of 206,000 shares from 13 individuals [11][12].