Rockchip Electronics cancels restricted shares as targets unmet

Rockchip Electronics (SSE:603893) announced the cancellation of 28,000 restricted shares granted under its 2022 stock option and restricted stock incentive plan. The decision follows the failure to meet pre-determined performance targets for the third vesting period. Specifically, the company did not achieve the required growth rate in either revenue or net profit for 2024, relative to the 2021 base year. The repurchase and cancellation involve three incentive recipients, with the cancellation slated for June 24, 2025. The repurchase price is CNY 58.97 per share plus deposit interest. Following the cancellation, Rockchip Electronics will have no remaining restricted shares under the 2022 incentive plan.