SG Automotive's 2024 restricted stock plan sees first unlock, share repurchase

Liaoning SG Automotive Group announced the expiration of the first restricted sales period of its 2024 restricted stock incentive plan, initially granted on November 29, 2024. Conditions for lifting the restriction were met for 79 eligible individuals, totaling 1.908 million restricted shares, representing 0.28% of the company's total share capital. These shares will remain restricted until May 29, 2026, due to company-level performance targets meeting the trigger value but not the full target, resulting in an 80% unlock ratio.

The company will repurchase and cancel 513,000 restricted shares. This includes 30,000 shares from one employee whose contract expired and was not renewed, 478,200 shares due to company-level performance targets not meeting the target value (repurchased at 1.22 yuan per share plus bank interest), and 4,800 shares from one employee who did not meet individual performance targets (repurchased at 1.22 yuan per share). This repurchase will reduce the company's total share capital from 683,604,211 shares to 683,091,211 shares. Creditors have been notified and have 45 days from December 26, 2025, to declare their claims.