Sunwoda Electronic activates 2022 employee equity incentive plan

Sunwoda Electronic will allow the self-exercising of 4,992,800 stock options, with an exercise price of 38.77 yuan per share, under its 2022 incentive plan. This includes 4,742,800 options from the third exercise period of the initial grant and 250,000 options from the second exercise period of the reserved grant. A total of 689 eligible participants will take part, with the exercise period for the initial grant running from September 17, 2025, to February 10, 2026, and for the reserved grant from September 17, 2025, to November 28, 2025.

Additionally, 1,656,100 shares of restricted stock will vest and become tradable on September 17, 2025, at a price of 19.18 yuan per share. This includes 1,541,600 shares from the third vesting period of the initial grant and 114,500 shares from the second vesting period of the reserved grant. The vesting involves 1,006 incentive recipients. The funds raised from both the stock option exercise and restricted stock vesting will be used to supplement the company's working capital.

Both the stock options and restricted stock vest/exercise are contingent on the company meeting its performance targets, which include a cumulative operating revenue of not less than 15 billion yuan for 2022-2024, as well as individual performance assessments. The company confirmed that all conditions for vesting and exercise have been met.