Luzhou Lao Jiao employees unlock second tranche of restricted shares

Luzhou Lao Jiao Co., Ltd. announced that 45 eligible incentive recipients will unlock 100,900 restricted shares from the second unlocking period of its 2021 Restricted Stock Incentive Plan’s reserved portion. These shares, representing 0.0069% of the company's current total share capital, are scheduled to become tradable on September 29, 2025. The company's board and compensation and assessment committee approved the unlocking conditions.

The second unlocking period covers 30% of the total awarded restricted shares. The company confirmed that both company-level performance targets and individual performance assessments were met. The 2022 net asset yield was 33.18%, exceeding the 75th percentile of benchmark companies. The 2022 net profit growth rate was 124.34% compared to 2019, also above the 75th percentile. Additionally, the 2022 cost-to-revenue ratio was 45.47%, meeting its target.

One incentive recipient resigned, resulting in 6,000 shares being repurchased and cancelled, bringing the total repurchased shares to 9,540 shares at a price of 73.891 yuan per share, following adjustments. The remaining 45 incentive recipients achieved "competent" or higher performance ratings, fulfilling the unlocking criteria.