Stock Short Name: Hainan Strait Shipping Stock Code: 002320 Announcement Number: 2026-19
Announcement on the Adjustment of the Exercise Price of Restricted Stock Options for the 2022 Incentive Plan
The Company and all members of its board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement and are jointly and severally liable for any false representations, misleading statements, or material omissions therein.
Hainan Strait Shipping Co., Ltd. (hereinafter referred to as the "Company") held the twenty-second meeting of the Eighth Board of Directors, which reviewed and approved the "Proposal on Adjusting the Exercise Price of Restricted Stock Options for the 2022 Incentive Plan." The relevant matters are hereby explained as follows:
I. Relevant Approval Procedures for the Incentive Plan
(I) On September 23, 2022, the Company held the eleventh extraordinary meeting of the Seventh Board of Directors, which reviewed and approved the "Proposal on the 2022 Stock Option Incentive Plan (Draft) and its Summary," the "Proposal on the Management Measures for the Implementation of the 2022 Stock Option Incentive Plan," the "Proposal on the Management Measures for the 2022 Stock Option Incentive Plan," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to Equity Incentives." On the same day, the Company held the seventh extraordinary meeting of the Supervisory Board, which reviewed and approved the "Proposal on the 2022 Stock Option Incentive Plan (Draft) and its Summary," the "Proposal on the Management Measures for the Implementation of the 2022 Stock Option Incentive Plan," and the "Proposal on the Management Measures for the 2022 Stock Option Incentive Plan." The independent directors of the Company issued independent opinions on whether the incentive plan is conducive to the sustainable development of the Company and whether it infringes upon the interests of the Company and all shareholders. The Supervisory Board issued its review opinion.
(II) On March 29, 2023, the Company announced that it had received the "Reply on the Implementation of the Stock Option Incentive Plan of Hainan Strait Shipping Co., Ltd." (Guo Zi Kao Fen [2023] No. 73) issued by the State-owned Assets Supervision and Administration Commission of the State Council (hereinafter referred to as the "State-owned SASAC"). The State-owned SASAC agreed in principle to the Company's implementation of the stock option incentive plan.
(III) On May 11, 2023, the Company held the nineteenth extraordinary meeting of the Seventh Board of Directors, which reviewed and approved the "Proposal on the 2022 Stock Option Incentive Plan (Revised Draft) and its Summary," among other related proposals. On the same day, the Company held the fourteenth extraordinary meeting of the Seventh Supervisory Board, which reviewed and approved the "Proposal on the List of Initial Grantees for the 2022 Stock Option Incentive Plan."