Yangnong Chemical to cancel restricted shares from departing employee

Jiangsu Yangnong Chemical (SSE:600486) announced the cancellation of 22,880 restricted shares following the departure of one of its incentive recipients. The decision, approved by the board on March 21, 2025, aligns with regulations outlined in the "Management Measures for Equity Incentives" and the company's 2022 restricted stock incentive plan. The employee no longer meets the incentive plan's conditions. The cancellation is expected to be completed on May 27, 2025, reducing the total restricted shares to 3,795,450. The company has fulfilled its obligations to notify creditors and has obtained a legal opinion from Grandall Law Firm (Nanjing) confirming the compliance of the repurchase and cancellation.