GoerTek's employee stock plan: second lock-up period nears expiry

GoerTek Co., Ltd. announced that the second lock-up period for its "Homeland No. 7" employee stock ownership plan will expire on September 12, 2025. The plan, approved in August 2023 and amended in July 2024, divides the unlocking into four phases, with 25% of the shares becoming available at 12, 24, 36, and 48 months, respectively, from the last transfer of shares.

The company has met the performance targets for the second lock-up period, achieving a 2024 annual net profit attributable to shareholders of 2.665 bn yuan, representing a 144.93% increase from 2023. This surpasses the target of a 100% increase or 2024 operating revenue of not less than 106.382 bn yuan. Individual performance assessments for participants have also been completed, and the management committee will proceed with the sale of unlocked shares and fund distribution after the lock-up period ends.

The portion of shares corresponding to the unlocked conditions for the second lock-up period amounts to 890,023 shares, representing 0.03% of the company's total share capital. Due to one participant's departure before the second lock-up period expired, their entitlements will be handled by the management committee according to the plan's regulations.