On June 4, Jidong Cement announced that the 16th meeting of the 10th Board of Directors considered and adopted the Bill on Granting Restricted Shares to the Incentive Targets of the Restricted Stock Incentive Plan in 2025.
In accordance with the relevant provisions of the Measures for the Administration of Equity Incentives of Listed Companies, the Guidelines for Self-Discipline Supervision of Listed Companies of Shenzhen Stock Exchange No.1-Business Handling, the Restricted Stock Incentive Plan of Tangshan Jidong Cement Co., Ltd. The Board is of the view that the conditions for the grant under the 2025 Restricted Shares Incentive Scheme of the Company have been fulfilled, and determined that the date of grant under the Incentive Scheme shall be 4 June 2025, and 26.58 million restricted shares shall be granted to 245 eligible incentive participants.
The proposal has been considered and approved by the Remuneration and Appraisal Committee of the Board of Directors of the Company.
According to Jidong Cement's Announcement on Granting Restricted Shares to Incentive Participants under the 2025 Restricted Shares Incentive Plan, the 26.58 million shares granted this time account for 1% of the total share capital of the company, and the grant price is 3.41 yuan per share. The source of the underlying shares of the Incentive Scheme is the ordinary a shares repurchased by the Company from the secondary market. The Incentive Participants of the
Incentive Scheme are the directors, senior management, core technical personnel and core business personnel of the Company (including its controlling subsidiaries) in office at the time of the implementation of the Incentive Scheme. The lock-up period shall be 24 months from the date of completion of the registration of the Restricted Shares granted to the
Incentive Participants. During the lock-up period, the Restricted Shares granted to the Incentive Participants under the Incentive Scheme shall be subject to lock-up restriction and shall not be transferred, used for guarantee or repayment of debts. Shares acquired by the Incentive Participants as a result of the conversion of capital reserve into share capital, the distribution of bonus shares and the sub-division of shares granted to the Incentive Participants as a result of the restricted shares that have not yet been unlocked shall be locked up in accordance with the Incentive Scheme. Upon the release of the lock-up restriction, the Company shall handle the release of the lock-up restriction for the incentive participants who satisfy the conditions for the release of the lock-up restriction, and the restricted shares held by the incentive participants who fail to satisfy the conditions for the release of the lock-up restriction shall be repurchased and cancelled by the Company. The lock-up release period of the Restricted Shares granted under the
Incentive Scheme and the lock-up release schedule for each period are shown in the following table:
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