Shanghai International Port Group lifts restricted shares, repurchases some outstanding

Shanghai International Port Group's board and supervisory committee approved the lifting of restrictions for the second restricted period of initially granted A-shares and the first restricted period of reserved A-shares under its incentive plan, totaling 32,140,596 shares. These shares, part of an incentive plan that registered initial grants on July 30, 2021, and reserved grants on July 18, 2022, will become tradable on November 13, 2025. The company confirmed that all statutory and performance conditions for unblocking these shares have been met.

Concurrently, the company will repurchase and cancel 1,404,758 restricted shares from four incentive recipients. This includes 25,958 shares due to individual performance not meeting targets and 1,378,800 shares from three individuals for other reasons identified by the board, following relevant incentive plan provisions. The repurchased shares' prices were adjusted for cash dividends, with the initial grant shares now at 1.51504/share and reserved grant shares at 2.40304/share, using the lower of the adjusted grant price or the market price at repurchase. The funding for the repurchase will come from the company’s own capital.