Will Semiconductor: Second stock option exercise period opens for employees

Will Semiconductor Shanghai announced that the second exercise period for its 2023 Phase One and Phase Two stock option incentive plans has met the necessary conditions. The Phase One plan grants 716 eligible employees the right to exercise 2,561,099 stock options at an exercise price of 78.41 yuan per share, representing 33.19% of the total options granted under this plan. The Phase Two plan, involving 1,831 eligible employees, permits the exercise of 3,859,246 stock options, also at 78.41 yuan per share, representing 31.45% of its total options. Both plans use company-directed issuance of A-shares as the stock source.

The exercise periods for both plans will run from October 10, 2025, to October 9, 2026. Prior to this, adjustments were made to both plans, including the cancellation of options for employees who left the company or failed to meet performance targets. The company confirmed that both plans' performance targets for 2024, including semiconductor design business revenue of 216.40 bn yuan, were successfully met.

In total, 31 employees from Phase One and 147 from Phase Two were disqualified due to resignation, resulting in 170,414 and 529,800 stock options, respectively, being canceled. The company's remuneration and appraisal committee verified the eligibility of the remaining incentive recipients.