Securities Code: 002825
Securities Abbreviation: Nar Shares
Announcement No.: 2026-044
Shanghai Nar Industrial Co., Ltd.
Announcement on the Partial Achievement of Vesting Conditions for the First Tranche of the 2025 Restricted Stock Incentive Plan
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
Special Reminder:
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Shanghai Nar Industrial Co., Ltd. (hereinafter referred to as the "Company") announces that the vesting conditions for the first tranche of the first vesting period of the 2025 Restricted Stock Incentive Plan (hereinafter referred to as the "Incentive Plan" or "Plan") have been partially achieved. A total of 111 eligible employees meet the vesting conditions, with 1,182,644 restricted shares eligible for vesting, accounting for 0.35% of the Company's current total share capital. Due to partial achievement for 111 employees, 369,606 shares that were not exercised and 80,000 shares of one employee who is no longer eligible for vesting due to resignation will be repurchased and cancelled by the Company in accordance with relevant regulations, totaling 449,606 shares.
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Before the restricted shares are released from lock-up and become tradable, the Company will issue a relevant notice. Investors are advised to pay attention.
The Company held its third meeting of the sixth Board of Directors on August 7, 2026, which reviewed and approved the "Proposal on the Partial Achievement of Vesting Conditions for the First Tranche of the 2025 Restricted Stock Incentive Plan." The details are as follows:
I. Implementation of the Company's 2025 Restricted Stock Incentive Plan
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On April 21, 2025, the Company convened the fifteenth meeting of the fifth Board of Directors, which reviewed and approved the "Proposal on the Draft <2025 Restricted Stock Incentive Plan of the Company> and its Summary," the "Proposal on the <2025 Restricted Stock Incentive Plan Performance Assessment and Management Measures of the Company>," and the "Proposal to Authorize the Board of Directors by the Shareholders' Meeting to Handle Matters Related to the 2025 Restricted Stock Incentive Plan of the Company." The Remuneration and Assessment Committee of the fifth Board of Directors provided a clear and affirmative review opinion on the Incentive Plan.
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From April 22, 2025, to May 1, 2025, the Company publicly disclosed the list of proposed eligible employees for the Incentive Plan on the Juchao Information Network and internally. During the disclosure period, the Company's Supervisory Committee did not receive any objections from any organization or individual regarding the proposed eligible employees for the Incentive Plan. On May 6, 2025, the Company disclosed the "Explanation of the Supervisory Committee on the Review Opinion and Disclosure of the List of Eligible Employees for the 2025 Restricted Stock Incentive Plan" (Announcement No.: 2025-028).
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On May 13, 2025, the Company's 2024 Annual Shareholders' Meeting reviewed and approved the "Proposal on the Draft <2025 Restricted Stock Incentive Plan of the Company> and its Summary," the "Proposal on the <2025 Restricted Stock Incentive Plan Performance Assessment and Management Measures of the Company>," and the "Proposal to Authorize the Board of Directors by the Shareholders' Meeting to Handle Matters Related to the 2025 Restricted Stock Incentive Plan of the Company."
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On June 25, 2025, the Company convened the seventeenth meeting of the fifth Board of Directors, which reviewed and approved the "Proposal on Adjusting Matters Related to the 2025 Restricted Stock Incentive Plan" and the "Proposal on Granting Restricted Shares for the First Time to Eligible Employees of the 2025 Restricted Stock Incentive Plan." The Remuneration and Assessment Committee of the fifth Board of Directors provided a clear and affirmative review opinion. The law firm issued a legal opinion.