Layn(SZ:002166) Shang Hai Zheng Quan Bao·2025-11-18 18:29Core Viewpoint - The company announced the listing and circulation of 3.354 million shares of restricted stock as part of its 2022 incentive plan, which will be released from restrictions on November 21, 2025, following the fulfillment of specific conditions by 67 eligible participants [1][12]. Summary by Sections Incentive Plan Approval and Execution - The company’s board approved the 2022 restricted stock incentive plan on September 13, 2022, with independent directors providing consent and legal opinions from Beijing DeHeng Law Firm [1][2]. - The plan was publicly announced from September 14 to September 23, 2022, with no objections raised during the public comment period [2]. - The second extraordinary general meeting of shareholders approved the plan on September 30, 2022, and the first grant of restricted stock was completed on November 21, 2022, with a total of 11.3976 million shares granted at a price of 5.66 yuan per share [3][4]. Conditions for Release of Restrictions - The third release period for the restricted stock is defined as the first trading day after 36 months from the completion of the initial grant, lasting until the last trading day within 48 months [7]. - The board confirmed that the conditions for the third release period have been met, allowing for the release of 3.354 million shares for 67 eligible participants [8][12]. Adjustments and Changes - The board made adjustments to the performance assessment indicators of the incentive plan on September 11, 2023, which were subsequently approved by the shareholders [4]. - The repurchase price of the restricted stock was adjusted from 5.66 yuan to 5.56 yuan per share following the completion of the 2022 annual profit distribution plan [10]. - The company also approved the repurchase and cancellation of restricted stocks for participants who have left the company [10][11]. Listing and Circulation of Shares - The listing date for the released restricted shares is set for November 21, 2025, with the released shares representing 0.45% of the company's total share capital of 741.609425 million shares [1][12]. - The company will ensure compliance with relevant regulations regarding the trading of shares held by directors and senior management [12].