Ganfeng Lithium: first vesting for 2023 employee stock plan participants

Jiangxi Ganfeng Lithium Group Co., Ltd. (Ganfeng Lithium) announced the first vesting period for the reserved grant portion of its 2023 employee stock ownership plan. The plan, approved in November 2023, saw the reserved grant portion's lock-up period expire on July 17, 2025. Following this, the company confirmed that all relevant subsidiary-level and individual performance assessment requirements for 2024 were met, with completion rates exceeding 100%.

Under the plan, 44 participants achieved a performance evaluation score of S≥80, meeting all conditions for the current vesting period. One participant with a score of 70>S≥60 met partial vesting conditions. The management committee will reclaim unvested shares from those who did not meet the conditions. The total number of shares eligible for vesting in this first period is 109,515, representing 0.01% of the company's current total share capital of 2,057,193,379 shares.

The plan's reserved grant portion, purchased between July and November 2024, involved 478,280 A-shares at an average price of yuan 28.90 per share, totaling approximately yuan 13,821,400. After the lock-up period, shares will vest in three tranches: 30%, 30%, and 40% of the total held shares, based on further assessments.