Shannon Semi(SZ:300475) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-03 23:27Core Viewpoint - The company has approved the first vesting conditions for the reserved portion of the 2024 restricted stock incentive plan, allowing 21 eligible participants to receive a total of 1.112 million shares, which represents 0.24% of the company's total share capital [1][22][31]. Summary by Sections Incentive Plan Overview - The 2024 restricted stock incentive plan includes a total of 18.3 million shares, with 15.52 million shares for initial grants and 2.78 million shares reserved for future grants [1][2]. - The initial grant price was set at 16.30 yuan per share, which has been adjusted to 16.041 yuan per share due to subsequent corporate actions [2][12][20]. Vesting Conditions - The first vesting period for the reserved shares is from September 29, 2025, to September 24, 2026, with a vesting ratio of 40% of the total granted shares [23][24]. - The company has confirmed that the vesting conditions for the reserved shares have been met, allowing for the issuance of 1.112 million shares to the eligible participants [22][31]. Stock Transfer and Lock-up Period - There is no additional lock-up period for the shares after vesting, but there are restrictions on the transfer of shares by directors and senior management during their tenure and for six months post-departure [5][26]. Financial Impact - The total share capital will increase from 463,773,767 shares to 464,885,767 shares following the issuance of the vested shares, which may dilute earnings per share and return on equity [28][32]. - The funds raised from the stock issuance will be used to supplement the company's working capital [30]. Legal and Compliance - The company has complied with necessary approvals and regulations regarding the adjustment of grant prices and the vesting of the reserved shares, as confirmed by legal opinions and audit reports [33].