SA(SH:601021) Zheng Quan Zhi Xing·2025-08-29 17:02Core Viewpoint - The article outlines the management measures for the employee stock ownership plan of Spring Airlines, emphasizing compliance with laws and regulations, voluntary participation, and risk-bearing principles for employees [2][3][4]. Group 1: Basic Principles of the Employee Stock Ownership Plan - The plan adheres to the principle of legal compliance, ensuring that all procedures are followed according to relevant laws and regulations [3][4]. - Participation in the plan is voluntary, with no forced allocation to employees [3][4]. - Participants bear their own risks, with equal rights to other investors [3][4]. Group 2: Implementation Procedures - The plan requires approval from the shareholders' meeting, with a majority vote needed for implementation [4][5]. - Monthly announcements will be made regarding the progress of the plan, including details on stock transfers [4][5]. Group 3: Participants and Funding Sources - Eligible participants include senior management and employees of the company and its subsidiaries [5][6]. - Funding for the plan comes from employees' legal salaries, self-raised funds, and other legally permitted sources [5][6]. Group 4: Duration and Lock-up Period - The plan's duration starts from the date of the last stock transfer and can be extended under certain conditions [6][7]. - The lock-up period is structured based on performance ratings from 2023 to 2026, with specific unlock schedules tied to performance evaluations [6][7][8]. Group 5: Management and Governance - The plan will be managed internally, with a management committee elected by the participants [9][10]. - The management committee is responsible for daily operations, including stock sales and distribution of benefits [9][10]. Group 6: Rights and Obligations of Participants - Participants have rights to the plan's assets proportional to their holdings and must comply with relevant regulations [16][17]. - Participants are obligated to pay subscription funds and bear investment risks [16][17]. Group 7: Changes and Termination of the Plan - Any changes to the plan require a two-thirds majority approval from the participants and must be submitted for board and shareholder approval [17][18]. - The plan can be terminated early under specific conditions, including company decisions or participant disqualifications [17][18].