Inovance Technology unlocks third phase of equity incentives

Shenzhen Inovance Technology Co., Ltd. announced the unlocking of the third lock-up period for its sixth phase equity incentive plan, releasing 305,000 Class I restricted shares. This represents 0.0113% of the company's total share capital and will become available for circulation on September 24, 2025. Nine incentive recipients are involved in this unlock, with shares granted at an adjusted price of 41.56 CNY per share.

The unlocking follows the fulfillment of performance conditions, including a 2024 operating revenue growth rate of 106.43% compared to 2021, exceeding the 85% target. All nine incentive recipients also met their individual performance assessment criteria. The company's remuneration and appraisal committee confirmed all unlocking conditions have been met.

This marks the third unlock event for the initial grant of Class I restricted shares under the plan, with each of the first three periods releasing 25% of the total granted shares. The company’s equity structure will see adjustments, with 305,000 shares shifting from restricted to tradable high-level management shares.