Summary of the 2024 Restricted Stock Incentive Plan of Tianshan Electronics Core Viewpoint The announcement details the implementation of the 2024 Restricted Stock Incentive Plan, highlighting the conditions for the first vesting period and the performance targets required for the vesting of restricted stocks. Group 1: Overview of the Incentive Plan - The 2024 Restricted Stock Incentive Plan was approved at the company's board meetings, allowing for the allocation of restricted stocks to key personnel [1][10]. - A total of 67.1104 thousand shares will be vested to 27 individuals, with an adjusted grant price of 6.54 yuan per share [2][15]. - The plan includes a total of 209.72 thousand shares, with 40% of the shares vesting in the first period [3][15]. Group 2: Vesting Conditions - The first vesting period is set from February 7, 2025, to February 6, 2026, with specific performance targets based on revenue growth [10][14]. - The performance targets for the first vesting period require an 8% revenue growth compared to 2023, with a trigger value of 6.5% [6][14]. - The company must not have any disqualifying events, such as negative audit opinions or failure to distribute profits legally, for the vesting conditions to be met [11][12]. Group 3: Performance Assessment - The performance assessment consists of both company-level and individual-level evaluations, with individual performance rated on a scale from A to D [7][8]. - If the company meets its performance targets, the actual number of shares vested will be calculated based on the company-level and individual-level performance ratios [8][15]. - The company has established a clear framework for the assessment, ensuring that unvested shares due to performance issues cannot be carried over to the next year [15][20]. Group 4: Financial Impact - The vesting of 67.1104 thousand shares will increase the total share capital from 197,572,840 to 198,243,944 shares, which may dilute earnings per share and return on equity [19][20]. - The company will account for the costs associated with the restricted stock in accordance with relevant accounting standards, ensuring transparency in financial reporting [18][19].
天山电子: 关于2024年限制性股票激励计划首次授予第一个归属期归属条件成就的公告