THDB(SH:600867) Zheng Quan Zhi Xing·2025-09-02 16:26Core Viewpoint - Tonghua Dongbao Pharmaceutical Co., Ltd. has established a 2025 employee stock ownership plan (ESOP) to enhance employee engagement and align their interests with the company's performance [1][2]. Summary by Sections General Principles - The ESOP will adhere to legal compliance, voluntary participation, and risk-bearing principles, ensuring no forced participation or insider trading [2][4]. Implementation Procedures - The plan involves several steps, including drafting by the board, employee consultation, board and shareholder approval, and legal compliance checks [2][3][4]. Participation Criteria - Eligible participants include directors (excluding independent directors), supervisors, senior management, and key technical personnel, with a maximum of 77 participants [4][5]. Funding Sources - The total funding for the ESOP is capped at 47.52383 million yuan, sourced from employees' legal salaries and self-raised funds, with no financial assistance from the company [5][6]. Stock Source and Pricing - The stock for the ESOP will come from the company's repurchased shares, not exceeding 11.07782 million shares, representing about 0.566% of the total share capital, with a purchase price set at 4.29 yuan per share [5][6][7]. Plan Scale and Duration - The ESOP will hold a maximum of 11.07782 million shares, and the plan's duration is set for 48 months, with provisions for extension under certain conditions [6][7]. Lock-up Periods - The initial stock grant will have a lock-up period of 12 months, with subsequent unlocks based on performance metrics over three phases [7][8]. Performance Assessment - The ESOP includes both company-level and individual performance assessments, with specific financial targets set for the years 2025-2027, based on the company's 2024 revenue [9][10]. Management Structure - The ESOP will be managed by a committee elected by the participants, ensuring the protection of their rights and interests [12][13]. Rights and Obligations of Participants - Participants have rights to their shares but must fulfill obligations such as timely payment of subscription fees and adherence to trading regulations [17][18]. Changes and Termination - The ESOP can be modified or terminated based on participant approval and board decisions, with specific conditions outlined for both scenarios [16][19].