Juneyao Airlines completes employee stock plan, liquidates assets

Shanghai Juneyao Airlines Company Limited has announced the completion of its second employee stock ownership plan, with all 5,383,040 shares held by the plan now sold through the secondary market. This transaction represents 0.25% of the company's current total share capital. As a result, the employee stock ownership plan is terminated, and the company will proceed with asset liquidation and distribution.

The second employee stock ownership plan was initially approved on August 2, 2021, and its shares were transferred to the plan's account on October 14, 2021. The plan's duration was extended from October 13, 2024, to October 13, 2025, following resolutions on July 31, 2024, and August 13, 2024.

The plan achieved its third unlocking period performance targets, as confirmed on October 13, 2024. Simultaneously, the management committee recovered 231,409 A-share ordinary stocks from 22 participants whose equity shares remained unvested, leading to an adjustment in participant holdings.