GigaDevice releases restricted stock fourth phase

Gigadevice Semiconductor (Beijing) Inc. [SSE:603986] announced the lifting of sales restrictions on the fourth tranche of restricted stocks granted under its 2020 Stock Option and Restricted Stock Incentive Plan. Effective May 9, 2025, a total of 728,707 shares will be released for trading. This represents 0.1097% of the company's current total share capital. The decision to lift the restrictions was approved at the company's board meeting on April 24, 2025, as the conditions for the fourth release period were met. The beneficiaries include 244 employees, including directors, supervisors, senior management, and core personnel. The release aligns with the original incentive plan, which aimed to tie employee performance to company growth. The company stated that it will repurchase any shares that do not meet the release conditions. Based on the 2018-2020 average of CNY3,315.1994 million, Gigadevice’s 2024 operating revenue was CNY7,355.9777 million.