RICHEN(SH:603755) Zheng Quan Zhi Xing·2025-07-07 16:13Core Viewpoint - Qingdao Richen Food Co., Ltd. has approved a stock option incentive plan, granting 2.28 million stock options to 26 eligible participants, with a grant date set for July 7, 2025, and an exercise price of RMB 26.63 per share [1][5][12]. Summary by Sections Stock Option Grant Details - The stock option grant date is July 7, 2025, with a total of 2.28 million options to be granted [1][5]. - The plan has undergone necessary decision-making processes and disclosures, receiving approval from the shareholders' meeting [1][2]. Eligibility and Conditions - The stock options are granted only if certain conditions are met, including no adverse audit opinions in the last fiscal year and no disqualifying actions by the incentive recipients in the past 12 months [2][4][6]. - The board confirmed that both the company and the incentive recipients meet the eligibility criteria outlined in the relevant regulations [4][11]. Vesting and Exercise Terms - The stock options have a maximum validity of 48 months from the grant date, with a waiting period of 12 to 36 months before the options can be exercised [5][6]. - The exercise schedule is divided into three phases, with specific percentages of options available for exercise based on performance metrics [5][7]. Performance Metrics - The performance targets for the exercise of options are based on revenue and net profit growth rates for the years 2025 to 2027, with specific growth rates set for each year [7][8]. - If the performance targets are not met, the options will be canceled [8]. Financial Impact - The fair value of the stock options granted is estimated at RMB 4.9655 million, calculated using the Black-Scholes model [12]. - The incentive plan will impact the company's financial statements, with costs amortized over the years 2025 to 2028 [12][13]. Legal Compliance - A legal opinion confirms that the stock option grant has received necessary approvals and complies with relevant laws and regulations [13].