JinGuan Electric (SH:688517) Shang Hai Zheng Quan Bao·2025-09-15 19:59Core Viewpoint - The announcement details the results of the third vesting period of the initial grant and the second vesting period of the reserved grant under the 2022 Restricted Stock Incentive Plan of Jin Guan Electric Co., Ltd, with a total of 727,000 shares vested [2][3]. Group 1: Vesting Details - The total number of vested restricted shares is 727,000, with 616,000 shares from the initial grant's third vesting period and 111,000 shares from the reserved grant's second vesting period [2][3]. - The shares for this vesting were sourced from the company's repurchase of its A-share common stock from the secondary market [3][13]. Group 2: Decision-Making Process - The decision-making process for the incentive plan was approved by the company's board and supervisory board in multiple meetings throughout July 2022, with independent directors providing their consent [4][5][6]. - The plan was publicly disclosed and underwent a series of approvals, including a temporary shareholders' meeting where the plan was discussed and approved [7][8]. Group 3: Vesting Participants - A total of 28 individuals participated in this vesting, with 25 from the initial grant's third vesting period and 11 from the reserved grant's second vesting period, with 8 individuals participating in both [14]. - The company has established restrictions on the transfer of shares for directors and senior management, including limits on annual transfers and conditions post-employment [15][16]. Group 4: Financial and Registration Details - The company received a total of RMB 4,958,140.00 from 28 participants for the stock transfer, with part of the payment reducing the company's capital reserve [19]. - The registration of shares for the vested periods was completed on September 12, 2025, with confirmation from the China Securities Depository and Clearing Corporation [19].