Nanjing Boshang Optoelectronics Technology Co., Ltd. (hereinafter referred to as "the Company") held the 22nd meeting of the fourth board of directors on April 17, 2026, where it reviewed and approved the proposal regarding the unachieved vesting conditions of the second vesting period of the 2024 Restricted Stock Incentive Plan and the voiding of certain granted but unvested restricted stocks. The Company’s net profit for the fiscal year 2025 did not meet the performance assessment criteria, and some incentive recipients no longer met the incentive conditions. The Company intends to void 474,900 restricted shares from the first grant of the second vesting period, 104,100 reserved shares for the second vesting period, and 46,200 restricted shares that were granted but unvested due to changes in eligibility of certain recipients. The specific circumstances are announced as follows:
Overview of the 2024 Restricted Stock Incentive Plan
(1) Basic Information of the Incentive Plan
- Name of the Incentive Plan: 2024 Restricted Stock Incentive Plan (Draft) (hereinafter referred to as "the Incentive Plan")
- Type of Incentive: Type II Restricted Stock Incentive
- Source of Stock: The Company issues A-share common stock to incentive recipients
- Number and Proportion of Restricted Stocks to be Granted: 2,000,000 shares, accounting for 1.73% of the total share capital at the time of the announcement of the incentive plan draft.
(2) Granting of Restricted Stocks
| Grant Period | Number Granted | Grant Price (Before Adjustment) | Grant Date | Recipients |
|---|---|---|---|---|
| Initial Grant | 1,623,000 shares | 24.50 yuan/share | June 14, 2024 | 157 individuals including directors, senior management, middle management, and core technical (business) personnel |
| Reserved Grant | 347,000 shares | 24.50 yuan/share | October 14, 2024 | 25 middle management and core technical (business) personnel |
| Not Granted | 30,000 shares (Note) | — | — | — |
Note: The 30,000 shares of reserved restricted stocks were automatically invalidated as the Company did not clarify the recipients within 12 months after the approval of the incentive plan by the shareholders' meeting on April 26, 2024.