SUNWODA(SZ:300207) Zheng Quan Zhi Xing·2025-08-27 13:16Core Viewpoint - The announcement details the achievement of vesting conditions for the third vesting period of restricted stock and the second vesting period of reserved grants under the 2022 restricted stock and stock option incentive plan of Xinwanda Electronics Co., Ltd. Summary by Sections Incentive Plan Overview - The 2022 incentive plan includes a total of 25.78 million shares, accounting for approximately 1.50% of the company's total share capital of 1,718.97 million shares at the time of the announcement [1][2] - The initial grant consists of 24.93 million shares, representing 96.70% of the total grant, while reserved grants total 0.85 million shares, accounting for 3.30% of the total [1][2] Vesting Conditions - The third vesting period for the initial grant allows for the vesting of 1.54 million shares, while the second vesting period for reserved grants allows for 0.1145 million shares [1][29] - The vesting conditions include meeting performance targets, with a cumulative revenue target of 156.04 billion yuan for the years 2022 to 2024 [30][31] Performance Assessment - The performance assessment for the first vesting period requires a minimum revenue of 43.2 billion yuan for the year 2022 [5] - The personal performance assessment for each incentive recipient is categorized into four levels, with varying vesting percentages based on individual performance [6] Approval Procedures - The company has completed the necessary approval procedures for the incentive plan, including independent opinions from the board of directors and the supervisory board [6][7] - Adjustments to the number of incentive recipients and the number of shares granted have been made due to resignations and personal reasons of some recipients [9][22] Adjustments to Grant Prices - The grant price for restricted stock has been adjusted from 19.60 yuan per share to 19.53 yuan per share, and the exercise price for stock options has been adjusted from 39.19 yuan to 39.12 yuan [11][20] - Further adjustments have been made in subsequent meetings, reflecting changes in the company's equity distribution plans [19][21]