Thinkon Semi(SH:688233) Zheng Quan Zhi Xing·2025-08-22 10:18Core Viewpoint - The announcement details the first vesting conditions achievement of the 2024 restricted stock incentive plan for Jinzhou Shenkong Semiconductor Co., Ltd, indicating that 315,400 shares will vest for 263 eligible participants based on performance criteria and tenure [1][10][13]. Group 1: Incentive Plan Overview - The total number of restricted stocks granted is 950,416 shares, accounting for approximately 0.47% of the company's total share capital at the time of the announcement [2]. - The grant price for the restricted stocks is set at 13.745 yuan per share [2][8]. - The incentive plan includes 295 individuals, including directors and senior management, with 263 of them eligible for the first vesting [2][13]. Group 2: Vesting Schedule and Conditions - The vesting schedule is divided into three periods: - 40% after 12 months, - 30% after 24 months, - 30% after 36 months from the grant date [3][12]. - The performance targets for the first vesting period (2024) require a revenue growth rate of at least 30% compared to 2023 [4][12]. - The company must meet specific financial conditions, including no adverse audit opinions and compliance with legal regulations, to ensure the vesting of the stocks [10][11]. Group 3: Performance Assessment - Individual performance assessments will determine the actual number of shares vested, with a threshold score of 60 required for any shares to vest [5][12]. - If the company's performance targets are not met, the shares that could have vested will be rendered void [5][13]. Group 4: Compliance and Legal Review - The company has conducted a self-examination to ensure that no insider trading occurred among the participants in the six months prior to the announcement [14]. - Legal opinions confirm that the incentive plan complies with relevant laws and regulations, and the necessary approvals have been obtained [15].