Announcement on the Results of the Third Vesting Period of Restricted Shares and the Listing of Shares under the 2023 Restricted Share and 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 significant omissions.
Key Information Highlights:
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Vesting Date: June 26, 2026
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Number of Shares to be Vested: 771,221
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Number of Employees to Vest: 215
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Listing and Sale Restriction Arrangement for Vested Shares: The second class of restricted shares to be vested are unrestricted and can be circulated upon listing.
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Source of Second Class Restricted Shares: The company issued new A-share ordinary shares to the incentive recipients.
On June 1, 2026, Shenzhen King-Tech Materials Co., Ltd. (hereinafter referred to as the "Company") held its 17th meeting of the Fourth Board of Directors, which reviewed and approved the "Proposal on the Fulfillment of Vesting Conditions for the Third Vesting Period of Restricted Shares under the 2023 Restricted Share and Stock Option Incentive Plan." Recently, the company completed the registration of shares for the third vesting period of restricted shares under the 2023 Restricted Share and Stock Option Incentive Plan. The specific details are hereby announced as follows:
I. Overview of the Implementation of the Equity Incentive Plan
(I) Introduction to the Incentive Plan
On April 17, 2023, the Company convened its 2023 First Extraordinary General Meeting of Shareholders, which reviewed and approved, among other proposals, the "Proposal on the Company's <2023 Restricted Share and Stock Option Incentive Plan (Draft)> and its Summary." The main contents of the Company's 2023 Restricted Share and Stock Option Incentive Plan regarding the second class of restricted shares are as follows:
- Source of Shares for the Second Class Restricted Share Incentive Plan
The source of shares involved in the second class restricted share incentive plan is the new A-share ordinary shares issued by the Company to the incentive recipients.
- Number of Second Class Restricted Shares Granted to Incentive Recipients and Allocation
The plan intends to grant no more than 593,000 shares of the second class restricted shares to incentive recipients, accounting for approximately 0.54% of the Company's total share capital of 10,988.60 million shares at the time of the plan's draft announcement.
The allocation of the second class restricted shares granted under the plan among the incentive recipients is as follows:
| Name | Nationality | Position | Number of Restricted Shares Granted (10,000 shares) | Proportion of Total Granted Restricted Shares | Proportion of Company's Total Share Capital at Announcement |
|---|---|---|---|---|---|
| You Xin | China | CFO | 1.00 | 1.686% | 0.009% |
| Yuan Zheng | Hong Kong, China | Core Backbone Personnel | 0.27 | 0.455% | 0.002% |
| Other Core Backbone Personnel (231 people in total) | 58.03 | 97.858% | 0.528% | ||
| Total | 59.30 | 100.000% | 0.540% |
- Validity Period, Grant Date, Vesting Arrangements, and Lock-up Period of the Second Class Restricted Share Incentive Plan
(1) Validity Period of the Second Class Restricted Share Incentive Plan
The validity period of this incentive plan is from the date of granting the restricted shares until all granted restricted shares are vested or become void due to expiration, whichever is longer, not exceeding 60 months.
(2) Grant Date of the Second Class Restricted Share Incentive Plan