Shenzhen Megmeet Electric Co., Ltd.
Announcement on the Achievement of Exercise Conditions for the Fourth Tranche of the First Grant and the Third Tranche of the Reserve Grant of the 2022 Stock Option Incentive Plan
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
On June 9, 2026, Shenzhen Megmeet Electric Co., Ltd. (hereinafter referred to as the "Company" or "Megmeet") held its Fifth Meeting of the Sixth Board of Directors, which reviewed and approved the "Proposal on the Achievement of Exercise Conditions for the Fourth Tranche of the First Grant and the Third Tranche of the Reserve Grant of the 2022 Stock Option Incentive Plan." The relevant matters are hereby explained as follows:
I. Decision-Making Procedures and Information Disclosure for the Company's 2022 Stock Option Incentive Plan
(I) On May 23, 2022, the Seventeenth Meeting of the Fourth Board of Directors reviewed and approved the "Proposal on the <2022 Stock Option Incentive Plan (Draft)> and its Summary," the "Proposal on the <2022 Stock Option Incentive Plan Performance Management Measures>," and the "Proposal on Authorizing the General Meeting of Shareholders to Authorize the Board of Directors to Handle Matters Related to the Company's 2022 Stock Option Incentive Plan."
On the same day, the Fifteenth Meeting of the Fourth Board of Supervisors reviewed the list of incentive recipients for this incentive plan and approved the "Proposal on the <2022 Stock Option Incentive Plan (Draft)> and its Summary," the "Proposal on the <2022 Stock Option Incentive Plan Performance Management Measures>," and the "Proposal on Verifying the <List of Incentive Recipients for the First Grant of the 2022 Stock Option Incentive Plan>."
(II) From May 24, 2022, to June 2, 2022, the names and positions of the incentive recipients for the first grant of this incentive plan were publicly posted within the Company. During the公示 period, the Company's Board of Supervisors did not receive any objections regarding the incentive recipients of this incentive plan. On June 3, 2022, the Company disclosed the "Explanation and Verification Opinion of the Board of Supervisors on the Public Display of the List of Incentive Recipients for the First Grant of the 2022 Stock Option Incentive Plan" (Announcement No.: 2022-067) on the Juchao Information Network (www.cninfo.com.cn).
(III) On June 8, 2022, the Company held its Second Extraordinary General Meeting of Shareholders in 2022, which reviewed and approved the "Proposal on the <2022 Stock Option Incentive Plan (Draft)> and its Summary," the "Proposal on the <2022 Stock Option Incentive Plan Performance Management Measures>," and the "Proposal on Authorizing the General Meeting of Shareholders to Authorize the Board of Directors to Handle Matters Related to the Company's 2022 Stock Option Incentive Plan." The Company's implementation of this incentive plan was approved by the shareholders' meeting, and the Board of Directors was authorized to determine the grant date of the stock options, grant stock options to incentive recipients when they meet the conditions, and handle all necessary matters related to the granting of stock options.
On the same day, the Company disclosed the "Self-Inspection Report on Insiders and Incentive Recipients Trading Company Shares in the 2022 Stock Option Incentive Plan" (Announcement No.: 2022-070) on the Juchao Information Network (www.cninfo.com.cn).
(IV) On June 9, 2022, the Company held its Eighteenth Meeting of the Fourth Board of Directors and the Sixteenth Meeting of the Fourth Board of Supervisors, which reviewed and approved the "Proposal on the First Grant of Stock Options to Incentive Recipients." The Board of Supervisors verified this and issued a verification opinion. On June 10, 2022, the Company disclosed the "Announcement on the First Grant of Stock Options to Incentive Recipients" (Announcement No.: 2022-074) on the Juchao Information Network (www.cninfo.com.cn).