Yuanjie Semiconductor Technology (SH:688498) Zheng Quan Zhi Xing·2025-08-29 11:21Core Viewpoint - The company, Shaanxi Yuanjie Semiconductor Technology Co., Ltd., has announced a new stock incentive plan aimed at enhancing corporate governance, attracting and retaining key personnel, and aligning the interests of shareholders, the company, and core teams for long-term development [2][19]. Group 1: Stock Incentive Plan Overview - The stock incentive plan involves granting a total of 634,500 restricted stocks, accounting for approximately 0.74% of the company's total share capital as of the announcement date [1][3]. - The plan includes an initial grant of 507,600 shares (80% of the total) and a reserved portion of 126,900 shares (20% of the total) [1][3]. Group 2: Purpose of the Incentive Plan - The primary objective is to improve the company's governance structure and establish a long-term incentive mechanism to motivate management and core personnel, thereby enhancing team cohesion and competitiveness [2][19]. - The plan aims to ensure the alignment of interests among shareholders, the company, and the core team, focusing on the long-term development of the company [2][19]. Group 3: Stock Grant and Source - The incentive plan will utilize restricted stocks as the incentive tool, sourced from shares repurchased in the secondary market or newly issued shares directed to the incentive recipients [3][11]. - The initial grant price for the restricted stocks is set at 149.09 yuan per share, with adjustments possible based on corporate actions prior to the completion of the stock grant [11][12]. Group 4: Eligibility and Distribution of Incentives - Eligible recipients include directors, senior management, core technical personnel, and key business staff, with specific criteria outlined in relevant laws and regulations [4][5]. - The distribution of the restricted stocks among recipients is structured to ensure that no individual receives more than 1% of the total share capital through all active incentive plans [8][9]. Group 5: Performance Assessment and Conditions - The performance assessment for the incentive plan is based on annual revenue targets, with specific goals set for each assessment period from 2025 to 2028 [16][19]. - The plan stipulates that if the company fails to meet the performance targets, the corresponding restricted stocks will not vest and will be forfeited [16][19]. Group 6: Implementation and Adjustment Procedures - The plan's implementation requires approval from the board of directors and must follow a structured process for granting, vesting, and potential adjustments to the number of shares or grant price due to corporate actions [20][23]. - Adjustments to the number of restricted stocks or their grant price will be made in accordance with specific formulas if corporate actions such as stock splits or dividends occur [24][25].