Secote to cancel 404,500 shares in equity incentive plan

Suzhou Secote Precision Electronic (SSE:603283) announced it will cancel 404,500 restricted shares under its equity incentive plans. The decision, approved by the board and shareholders, comes after 17 employees left the company and six failed to meet performance targets for the 2022 equity plan. The cancellation is scheduled for February 21, 2025. Post-cancellation, the company's restricted shares will stand at 4,910,000. Secote has fulfilled its obligations to notify creditors and will proceed with relevant registration changes.