Raycloud(SH:688365) Shang Hai Zheng Quan Bao·2025-09-29 21:48Core Viewpoint - The announcement details the completion of the second lock-up period for the 2023 employee stock ownership plan of Hangzhou Guangyun Technology Co., Ltd, allowing for the unlocking of shares based on performance metrics [1][5][12]. Summary of Relevant Sections Employee Stock Ownership Plan Overview - The employee stock ownership plan was approved in meetings held on July 26, 2023, and September 11, 2023, with details disclosed on the Shanghai Stock Exchange [1]. - As of the announcement date, the plan holds 2,576,600 shares, representing 0.61% of the company's total equity [3]. Lock-up Period and Unlocking Conditions - The stock unlocking occurs in three phases: 40% after 12 months, 30% after 24 months, and 30% after 36 months from the last transfer of shares to the plan [4]. - The second lock-up period ended on September 29, 2025, allowing for the unlocking of 807,210 shares, which is approximately 0.19% of the total equity [5]. Performance Assessment - The company-level performance targets for the second unlocking phase were fully met, achieving a 100% unlocking ratio [5][12]. - Individual performance assessments resulted in 51 out of 58 participating employees achieving an "A" rating, leading to a 100% unlocking ratio for those individuals [6]. Subsequent Arrangements and Trading Restrictions - Following the unlocking, the management committee will decide on the timing for selling the unlocked shares, distributing proceeds according to ownership shares [7]. - There are specific trading restrictions during sensitive periods, including prior to financial report announcements and during significant corporate events [7]. Plan Duration, Changes, and Termination - The plan is set to last for 60 months, with provisions for extension if necessary [8]. - Any changes to the plan require approval from two-thirds of the participating shareholders [9]. - The plan will terminate automatically after the duration or upon complete sale of the shares [10][11]. Board Committee Opinion - The board's remuneration and assessment committee confirmed that the unlocking conditions were met in compliance with the plan's regulations, ensuring no harm to the interests of shareholders [12]. Other Notes - The company will continue to monitor the implementation of the stock ownership plan and fulfill disclosure obligations as required by law [13].