KINGSEMI(SH:688037) Zheng Quan Zhi Xing·2025-08-29 17:15Core Viewpoint - The announcement details the fulfillment of the second vesting period for the restricted stock incentive plan of Shenyang Xinyuan Microelectronics Equipment Co., Ltd, with 349,450 shares eligible for vesting [1][15][25]. Group 1: Stock Incentive Plan Overview - The total number of restricted stocks granted in the first award is 1.58 million shares, representing approximately 11.5% of the company's total share capital at the time of the announcement [1][2]. - The grant price for the restricted stocks is set at 34.23 yuan per share, adjusted from an initial price of 50 yuan per share [1][19]. - A total of 160 individuals were designated as recipients of the incentive plan [2][12]. Group 2: Vesting Schedule and Conditions - The vesting schedule includes four periods, with the first period allowing for 30% vesting after 12 months, the second period allowing for 20% vesting after 24 months, the third period allowing for another 20% after 36 months, and the final period allowing for 30% after 48 months [3][4]. - The vesting conditions require recipients to meet both tenure and performance criteria, including a minimum of 12 months of service and specific revenue growth targets compared to benchmark companies [5][18]. Group 3: Performance Assessment - The performance assessment for the incentive plan spans from 2023 to 2026, with annual evaluations based on cumulative revenue growth rates [5][19]. - For the first vesting period, the company must achieve a revenue growth rate equal to or greater than the average of benchmark companies, with a requirement for positive year-on-year growth [5][19]. - The individual performance assessment will categorize recipients into four levels: Excellent, Good, Qualified, and Unqualified, affecting the actual number of shares vested [6][7]. Group 4: Approval and Compliance - The board of directors and the supervisory board have approved the incentive plan and its implementation, confirming that the vesting conditions for the second period have been met [15][25]. - The company has conducted internal reviews and public disclosures regarding the incentive plan, ensuring compliance with relevant laws and regulations [8][9][24].