SG Micro Corp(SZ:300661) Zheng Quan Zhi Xing·2025-08-01 16:36Core Viewpoint - The announcement details the completion of the initial grant registration for the 2025 second phase stock option incentive plan by Shengbang Microelectronics, highlighting the approval process and specific details regarding the stock options granted to employees [1][2][3]. Approval Process - The plan was approved during the board and supervisory meetings held on May 26, 2025, and subsequently publicized internally from May 27 to June 5, 2025, with no objections raised [2]. - The plan received final approval from the shareholders at the extraordinary general meeting on June 11, 2025, allowing the board to determine the grant date and manage the necessary procedures [2][3]. - Adjustments to the incentive plan were approved in the board meetings on June 20, 2025 [3]. Stock Option Grant Details - The initial grant date was set for June 11, 2025, with a total of 10,160,000 stock options granted to 1,470 individuals at an exercise price of 72.60 CNY per option [3]. - The options will be exercisable in four phases, with the first phase allowing 22% of options to be exercised after 12 months, and subsequent phases allowing 24%, 26%, and 28% over the next 48 months [4]. Exercise Conditions - The stock options can only be exercised if specific conditions are met, including the absence of negative audit opinions and compliance with legal regulations [5]. - If any grantee is deemed unsuitable or has violated regulations, their unexercised options will be canceled [5]. Performance Assessment - The performance assessment for the stock options will be conducted annually from 2025 to 2028, based on revenue targets [6]. - The company will evaluate the performance of grantees and determine the exercise ratio based on their individual performance ratings [6]. Registration Completion - The registration for the initial grant was completed on August 1, 2025, with adjustments made to the number of options due to the departure of six grantees, resulting in a final grant of 13,207,220 options to 1,464 individuals [8].