Summary of Key Points Core Viewpoint The announcement details the achievement of the first exercise period conditions for the 2024 stock appreciation rights incentive plan of Shanghai Xinyang Semiconductor Materials Co., Ltd, allowing eligible participants to exercise their rights. Group 1: Incentive Plan Overview - The stock appreciation rights are based on virtual shares, with cash payments made based on the difference between the exercise price and the payout price [2][4] - A total of 257,800 stock appreciation rights are to be granted, representing approximately 0.08% of the company's total share capital of 3,133.81402 million shares [2][3] - The plan has a maximum validity period of 48 months from the grant date [4] Group 2: Exercise Conditions and Performance Targets - The exercise price for the stock appreciation rights is set at 16.88 yuan per share, adjusted from the original 17.34 yuan due to equity distribution [12][7] - The performance targets for the company are set as follows: - 2024 revenue must not be less than 1.5 billion yuan - 2025 revenue must not be less than 1.6 billion yuan - 2026 revenue must not be less than 1.7 billion yuan [7][8] - The exercise ratio is contingent on the achievement of these performance targets, with a maximum of 100% if targets are met [8][15] Group 3: Approval and Compliance - The plan has undergone necessary approvals, including verification by the supervisory board and legal opinions confirming compliance with relevant laws and regulations [17][19] - The supervisory board has confirmed that the six eligible participants meet the conditions for exercising their rights [17][19] - The company has disclosed all relevant information and has not received any objections during the public notice period [9][10]
上海新阳: 关于2024年股票增值权激励计划第一个行权期行权条件成就的公告