Xinnong Chemical completes 2024 restricted stock incentive plan grant

Zhejiang Xinnong Chemical (SZSE:002942) announced the completion of registration for its 2024 restricted stock incentive plan, granting 2.648 million shares at a price of 7.46 yuan per share to 108 employees. The shares, sourced from the company's stock repurchase program, were officially granted on January 20, 2025, and are scheduled to be listed on February 13, 2025. The plan aims to tie employee compensation with company performance, with the shares vesting over three years based on the achievement of pre-defined net profit and revenue growth targets for 2025, 2026, and 2027, using 2024 as a baseline. The company will amortize approximately 2.1846 million yuan in expenses related to the plan between 2025 and 2028. The incentive plan is designed to boost long-term performance without significantly diluting existing shareholders.