Huaxin Cement's first employee stock plan nears second unlocking phase

Huaxin Cement Co., Ltd. announced that the second lock-up period for the first tranche of its 2023-2025 core employee stock ownership plan will expire on September 28, 2025. This tranche will unlock 802,646 shares, representing 0.0386% of the company's total share capital.

The plan's dedicated securities account initially held 2,917,577 A-shares. However, due to unmet performance targets, 241,764 shares were unable to be vested and were consequently recovered and disposed of by the plan’s management committee. As of the announcement date, the account holds 1,873,213 A-shares, accounting for 0.0901% of the total share capital.

The employee stock ownership plan unlocks in three phases: 30% after 12 months, 30% after 24 months, and 40% after 36 months from the last transfer of shares to the employee account. The plan's total duration is up to 60 months, with a possibility for extension not exceeding 12 months per extension, subject to shareholder and board approval. Following the expiration of each lock-up period, the management committee will arrange for the disposal and distribution of rights in accordance with the plan's regulations.