Chipsea(SH:688595) Shang Hai Zheng Quan Bao·2025-08-04 18:47Core Viewpoint - The announcement details the first vesting period of the 2023 restricted stock incentive plan for Chipsea Technologies, confirming that the conditions for vesting have been met for certain participants [1][15][59]. Group 1: Incentive Plan Overview - The total number of restricted stocks to be vested is 1.66 million shares, comprising 1.4023 million shares from the initial grant and 257,700 shares from the reserved grant [2][22]. - The source of the vested stocks is the company's directed issuance of A-share common stock to the incentive recipients [3][22]. - The incentive plan involves a total of 7.5 million shares, representing approximately 5.27% of the company's total share capital as of the plan's announcement date [4][22]. Group 2: Grant Details - The initial grant consists of 6 million shares, accounting for 80% of the total planned grants, while the reserved grant includes 1.5 million shares, making up 20% [4][22]. - The grant price for both the initial and reserved stocks is set at 16.60 yuan per share [5][22]. - A total of 177 individuals are included in the initial grant, while 35 individuals are part of the reserved grant [6][22]. Group 3: Vesting Conditions - The vesting period for the initial grant is defined as starting from the first trading day after 12 months from the grant date, which is November 7, 2023, and ending on November 6, 2025 [17][22]. - The performance assessment for the incentive recipients includes both company-level and individual-level evaluations, with specific revenue targets set for the company [8][22]. - The vesting conditions have been confirmed as met for 151 recipients of the initial grant and 31 recipients of the reserved grant [15][59]. Group 4: Decision-Making Process - The board of directors and the supervisory board have approved the incentive plan and its implementation through several meetings, ensuring compliance with relevant regulations [9][11][12]. - The company conducted a self-examination regarding insider trading prior to the announcement of the incentive plan, finding no violations [10][11]. - The board's decision to grant the stocks was based on the fulfillment of all necessary conditions and the legality of the recipients' qualifications [19][62].