Polyrocks(SH:688669) Shang Hai Zheng Quan Bao·2025-09-29 20:57Core Viewpoint - The announcement details the completion of the stock option incentive plan for 2025, including the number of options granted and the procedures followed for approval and registration [2][4][19] Group 1: Stock Option Details - Stock option reserve grant registration completion date: September 26, 2025 [2] - Total number of stock options reserved for grant: 1.2 million [2] - Number of individuals receiving stock options: 18 [2] - Source of stock: Company will issue A-share common stock to the incentive recipients [2] Group 2: Decision-Making Process - The decision-making process for the incentive plan included multiple board meetings and approvals, starting from March 31, 2025, with the final approval from the shareholders on April 17, 2025 [3][4][5] - The board authorized the grant of stock options on April 25, 2025, with a total of 4.8 million options granted to 25 recipients [5][6] Group 3: Grant Conditions and Terms - The effective period of the incentive plan is from the first grant date until all options are exercised or canceled, not exceeding 48 months [6] - The waiting period for the options is set at 12 months and 24 months for different grants [7] - The exercise price for the reserved stock options is set at 14.95 yuan per option [9] Group 4: Performance Assessment - The performance assessment for the stock options includes company-level and individual-level evaluations, with specific targets set for the years 2025 and 2026 [12][13] - The company-level performance targets are linked to the net profit as per the audited consolidated financial statements [12] Group 5: Financial Impact - The fair value of the stock options was calculated using the Black-Scholes model, with the underlying stock price at 22.14 yuan per share on the authorization date [14][18] - The estimated incentive costs will be recognized in the company's regular operating results, with a minor expected impact on financial performance [15][18]