Gelonghui, Feb. 1 | Eston (002747.SZ) announced that on February 1, 2024, the company held the fifth meeting of the fifth board of directors and the fifth meeting of the fifth board of supervisors to review and pass the “Proposal on Terminating the Implementation of the Second Phase of the Long-term Incentive Plan and the 2023 Stock Option Incentive Plan and Cancelling Stock Options”.
Given that the current macroeconomic, market environment, and capital market conditions at home and abroad have changed significantly compared to expectations, it is expected that it will be more difficult to achieve the company-level performance assessment goals during each assessment period of the incentive plan, and that the exercise price set deviates greatly from the current stock price, so it will be difficult to achieve the expected incentive goals and results by continuing to implement this incentive plan. In line with the company's future development plan, after careful research, the board of directors of the company decided to terminate the implementation of the second phase of the long-term incentive plan and the 2023 stock option incentive plan, and cancel the stock options granted but not yet exercised. The “Long-term Incentive Plan Phase II and 2023 Stock Option Incentive Plan Implementation Assessment Management Measures” supporting this incentive plan will also be terminated.
According to the “Administrative Measures on Equity Incentives for Listed Companies” and other relevant regulations, since the company plans to terminate the implementation of this incentive plan, the stock options granted but not yet exercised shall be cancelled by the company. The board of directors of the company will complete the cancellation procedure of the relevant stock options after the shareholders' meeting deliberates and approves the termination of implementation of this incentive plan. After the company terminates this incentive plan, a total of 9.039 million stock options granted to the 284 incentive recipients involved but not yet exercised will be cancelled by the company.