SUPCON Technology (SH:688777) Zheng Quan Zhi Xing·2025-08-29 18:13Core Viewpoint - The company has decided to cancel 883,500 shares of unvested restricted stock from its 2024 incentive plan due to unmet performance targets at the company level [4][5]. Group 1: Decision and Process - The company held meetings of the Board of Directors and Supervisory Board on August 29, 2025, to approve the cancellation of unvested restricted stock [1][2]. - The incentive plan was previously approved by the shareholders, and the Board was authorized to determine the grant date and manage the necessary procedures for granting restricted stock [3]. Group 2: Specifics of the Cancellation - A total of 883,500 shares of restricted stock will be canceled because the company did not meet the performance targets set for the first vesting period [4]. - The performance assessment results indicated that the company's performance did not meet the required targets, leading to the complete cancellation of the restricted stock for the year [4]. Group 3: Impact on the Company - The cancellation of the restricted stock will not have a material impact on the company's financial condition or operational results [4]. - The stability of the management team and the continuation of the equity incentive plan will not be affected by this cancellation [4]. Group 4: Supervisory Board and Legal Opinions - The Supervisory Board confirmed that the cancellation of the unvested restricted stock complies with relevant laws and regulations, and does not harm shareholder interests [5]. - Legal opinions from Beijing King & Wood Mallesons affirm that the cancellation aligns with the Company Law, Securities Law, and the regulations governing equity incentives [5].