Announcement on the Results of the Second Vesting Period of the 2022 Restricted Stock Incentive Plan and Share Listing
The company and all members of the board of directors guarantee the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Key Information Prompts:
- Vesting Date: June 15, 2026
- Vesting Quantity: A total of 9.06768 million shares, accounting for 1.08% of the company's current total share capital; of which, 7.8705 million shares are from the initial grant and 1.19718 million shares are from the reserved grant.
- Number of Recipients: 494 individuals; of which, 435 individuals are from the initial grant and 106 individuals are from the reserved grant (47 incentive recipients will vest both initial and reserved restricted stocks simultaneously).
- Vesting of Restricted Stocks: There is no lock-up period for the vested restricted stocks. For incentive recipients who are directors and senior management, the provisions of relevant regulations shall apply.
Jiangsu Lihua Food Group Co., Ltd. (hereinafter referred to as the "Company") held the 13th meeting of the Fourth Board of Directors on May 29, 2026, and reviewed and approved the "Proposal on Whether the Second Vesting Period of the 2022 Restricted Stock Incentive Plan Initial Grant Meets Vesting Conditions" and the "Proposal on Whether the Second Vesting Period of the 2022 Restricted Stock Incentive Plan Reserved Grant Meets Vesting Conditions." Recently, the Company completed the share registration for the second vesting period of the initial and reserved grants of the 2022 Restricted Stock Incentive Plan. The relevant matters are hereby explained as follows:
I. Summary of the Implementation of the Incentive Plan
(I) The Incentive Plan and the Procedures Followed
- Main Content of the Incentive Plan
On July 22, 2022, and August 8, 2022, the Company held the 12th meeting of the Third Board of Directors and the 2nd Extraordinary General Meeting of Shareholders of 2022, respectively, and reviewed and approved the "Proposal on the 2022 Restricted Stock Incentive Plan (Draft) and its Summary," and other related proposals. The main content of the 2022 Restricted Stock Incentive Plan is as follows:
(1) Incentive Tool: Class II restricted stocks. (2) Underlying Stock Source: The Company will issue Class A common shares of the Company to the incentive recipients through定向发行 (directed issuance). (3) Grant Price: RMB 20.73 per share (before adjustment). (4) Scope of Incentive Recipients and Allocation:
The incentive recipients of the 2022 Restricted Stock Incentive Plan (hereinafter referred to as the "2022 Incentive Plan") are the Company's directors, senior management, other management/technical personnel, and key technical/business personnel (including subsidiaries and holding subsidiaries), excluding independent directors and supervisors.
The 2022 Incentive Plan proposes to grant a total of 12,000,000 restricted shares to the incentive recipients, accounting for 2.97% of the Company's total share capital of 403,880,000 shares at the time of the announcement of the 2022 Incentive Plan draft. Among them, the initial grant is 10,358,000 restricted shares, accounting for 2.56% of the Company's total share capital of 403,880,000 shares at the time of the announcement of the 2022 Incentive Plan draft, representing 86.32% of the total equity granted. The reserved grant is 1,642,000 shares, accounting for 0.41% of the Company's total share capital of 403,880,000 shares at the time of the announcement of the 2022 Incentive Plan draft, representing 13.68% of the total equity granted (before adjustment).
The allocation of restricted shares granted under the 2022 Incentive Plan is as follows (before adjustment):