SICC CO.(SH:688234) Zheng Quan Zhi Xing·2025-08-29 11:21Core Viewpoint - The announcement details the first vesting period of the 2024 Restricted Stock Incentive Plan for Shandong Tianyue Advanced Technology Co., Ltd, confirming that the conditions for vesting have been met for a total of 66 participants, allowing for the vesting of 396,300 shares [1][18][20]. Group 1: Incentive Plan Overview - The total share capital of the company is 429.71 million shares, with the initial grant of 4.08 million shares representing approximately 0.95% of the total share capital [1]. - The plan includes a reserve of 1 million shares, which accounts for about 0.23% of the total share capital [1]. - The first vesting period is defined as the period from the first grant date until the last trading day within 24 months [14]. Group 2: Vesting Conditions - The first vesting period requires a minimum of 12 months of service for the incentive recipients before any shares can vest [2]. - The performance assessment for the first vesting period is based on the company's revenue and net profit for the years 2024 to 2026, with specific growth targets set for each year [3][14]. - The performance targets for the first vesting period include a revenue increase of no less than 100% compared to 2023 and a net profit that is positive [3][14]. Group 3: Performance Assessment - The performance assessment will determine the company-level vesting ratio based on the achievement of revenue and net profit targets [3][7]. - The vesting ratio is calculated as Z = X + Y, where X and Y are derived from the performance metrics [7][16]. - If the calculated vesting ratio exceeds 100%, it will be capped at 100% [7][16]. Group 4: Specifics of the Grant - The initial grant date for the restricted stock is set for July 3, 2024, with a grant price of 32 yuan per share [18]. - A total of 396,300 shares are eligible for vesting, representing 10.74% of the total granted shares [18][19]. - The company will handle the vesting and related share registration procedures according to regulatory requirements [20].