Core Viewpoint - The legal opinion letter from Beijing Jincheng Tongda (Shanghai) Law Firm confirms the validity of the cancellation of 388,454 restricted stocks under Hangzhou Guangli Microelectronics Co., Ltd.'s 2023 restricted stock incentive plan due to specific conditions such as employee departures and performance assessment failures [1][8]. Group 1: Legal Framework and Approval - The law firm conducted a thorough review based on relevant laws, regulations, and the company's articles of association, confirming that the cancellation of the restricted stocks has received necessary approvals [2][8]. - The company has fulfilled the required procedures for the approval and authorization of the stock cancellation, as outlined in the relevant legal documents [6][8]. Group 2: Reasons for Stock Cancellation - A total of 27,344 restricted stocks were rendered invalid due to the departure of two initial incentive recipients and twelve reserved recipients, who had not yet vested their stocks [7][8]. - The performance assessment criteria for the second vesting period of the initial grant were not met, leading to the cancellation of 361,110 restricted stocks, as the company's revenue growth did not reach the required threshold [8]. Group 3: Disclosure Obligations - The company is obligated to disclose the decisions made by the board and supervisory committee regarding the stock cancellation, in accordance with the management measures and listing rules [8][9]. - The law firm asserts that the company has complied with necessary disclosure obligations and will continue to do so as the incentive plan progresses [9].
广立微: 北京金诚同达（上海）律师事务所关于杭州广立微电子股份有限公司2023年限制性股票激励计划部分限制性股票作废的法律意见书