Core Viewpoint - The announcement details the completion of the third vesting period for the 2022 restricted stock incentive plan of Zhejiang Xinghua New Materials Group Co., Ltd, allowing the stocks to be listed and traded after vesting [1][2]. Summary by Sections 1. Overview of the Restricted Stock Incentive Plan - The plan was approved on May 16, 2022, with the first grant date set for June 23, 2022, at a price of 11.52 yuan per share [1][2]. - A total of 575,000 shares were granted, with 460,000 shares allocated to key personnel and 115,000 shares reserved [1][2]. 2. Vesting Arrangement - The vesting schedule is divided into three periods: - 33% after 12 months - 33% after 24 months - 34% after 36 months [3][4]. - Shares cannot be transferred or used as collateral before vesting [3]. 3. Performance Assessment Requirements - The performance assessment for the vesting periods is based on revenue or net profit growth rates: - 10% for the first period - 20% for the second period - 30% for the third period [4][5]. 4. Decision-Making Process and Approval - The plan underwent several meetings for approval, with independent directors and the supervisory board providing consent [5][6]. - Adjustments were made to the number of shares and the grant price due to changes in the list of grantees [9][10]. 5. Compliance with Vesting Conditions - The board confirmed that the conditions for the third vesting period were met, allowing for the vesting of 178,704 shares to 18 grantees [14][15]. - The company’s financial performance met the required growth metrics, confirming eligibility for the vesting [14]. 6. Listing and Trading Arrangements - The shares from the third vesting period will be available for trading starting July 24, 2025 [15][16]. - Restrictions on the transfer of shares by directors and senior management are outlined, including a limit of 25% on the total shares held [15]. 7. Impact on Company Structure - The total number of shares after the vesting will be 170,078,941, with a minor impact on the company's equity structure [17][18]. - The vesting will not significantly affect the company's financial status or operational results [18]. 8. Legal Opinions - Legal counsel confirmed that the vesting process complies with relevant laws and regulations, and necessary approvals have been obtained [18].
星华新材: 关于2022年限制性股票激励计划首次授予部分第三个归属期归属结果暨股份上市公告