Friendess Electronic vests shares, inactivates unvested portion of incentive plan

Shanghai Friendess Electronic Technology Corporation announced the vesting of 338,688 restricted shares from its 2024 incentive plan's first vesting period. The decision, approved by the board and supervisory board, follows the achievement of the first vesting period’s conditions, with 24 eligible incentive recipients. The granted price for these shares is 65.05 yuan per share.

Concurrently, the company is inactivating 153,552 restricted shares that were granted but did not meet the vesting conditions. This includes 82,790 shares from 12 incentive recipients with a B+ performance rating (90% vesting) and 70,762 shares from 12 recipients with a B rating (80% vesting). The company confirmed that all necessary approvals for both the vesting and inactivation have been obtained, and these actions are not expected to materially impact company operations.