Securities Code: 301589
Securities Abbreviation: NovaStar
Announcement No.: 2026-039
Xi'an NovaStar Technology Co., Ltd.
Announcement on the Fulfillment of Vesting Conditions for the First Vesting Period of the 2025 Restricted Stock Incentive Plan
The Company and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Key Content Highlights:
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Number of restricted shares to be vested: The first vesting period for the initial grant is expected to vest 583,138 shares, accounting for 0.63% of the company's current total share capital.
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Source of vested shares: Ordinary A shares repurchased by the company from the secondary market.
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Vesting price for the second type of restricted shares (adjusted): RMB 70.47 per share.
Xi'an NovaStar Technology Co., Ltd. (hereinafter referred to as the "Company") held the sixth meeting of the Third Board of Directors' Remuneration and Assessment Committee and the seventeenth meeting of the Third Board of Directors on July 1, 2026. Both meetings deliberated and approved the "Proposal on the Fulfillment of Vesting Conditions for the First Vesting Period of the Initial Grant of the 2025 Restricted Stock Incentive Plan." The Board of Directors believes that the vesting conditions for the first vesting period of the initial grant of the 2025 Restricted Stock Incentive Plan have been met. The Company agrees to proceed with the vesting of 583,138 shares of the second type of restricted stock for the first vesting period for 190 eligible recipients of the initial grant, in accordance with regulations. The relevant matters are hereby announced as follows:
I. Overview of the Implementation of the 2025 Restricted Stock Incentive Plan
(I) Brief Description of the Incentive Plan and Related Approval Procedures
- Brief Description of the 2025 Restricted Stock Incentive Plan
The Company's "2025 Restricted Stock Incentive Plan (Draft)" (hereinafter referred to as the "Incentive Plan (Draft)" or "this Incentive Plan") and its summary have been deliberated and approved by the first meeting of the Third Board of Directors' Remuneration and Assessment Committee, the second meeting of the Third Board of Directors, and the second extraordinary general meeting of shareholders in 2025. The main contents are as follows:
(1) Incentive Instrument: Restricted shares (second type of restricted shares).
(2) Source of Shares: Ordinary A shares repurchased by the company from the secondary market and/or ordinary A shares issued to incentive recipients.
(3) Number of Shares Granted (Before Adjustment): This Incentive Plan proposes to grant no more than 1.7 million restricted shares to incentive recipients, accounting for approximately 1.84% of the Company's total share capital of 92.448 million shares as of the announcement date of the Incentive Plan Draft. Among these, the initial grant is 1.618582 million shares, accounting for 1.75% of the Company's total share capital of 92.448 million shares as of the announcement date of the Incentive Plan Draft, and 95.21% of the total equity incentives granted under this Incentive Plan. The reserved portion is 0.081418 million shares, accounting for 0.09% of the Company's total share capital of 92.448 million shares as of the announcement date of the Incentive Plan Draft, and 4.79% of the total equity incentives granted under this Incentive Plan.
(4) Grant Price (Before Adjustment): RMB 71.88 per share.
(5) Incentive Recipients (Before Adjustment): The total number of incentive recipients for the initial grant of this Incentive Plan is 194, including senior management personnel, middle and junior management personnel, and key technical (business) backbones employed by the Company (including its subsidiaries, hereinafter the same) at the time of the announcement of this Incentive Plan. The total number of incentive recipients for the reserved grant is 9, including middle and junior management personnel and key technical (business) backbones of the Company.
(6) The vesting schedule for the restricted shares granted in the initial grant of this Incentive Plan is as follows: