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Huadong Medicine approves second vesting for restricted stock plan

October 14, 2025 at 05:22 PM UTCBy FilingReader AI

Huadong Medicine's Eleventh Board of Directors' Third Meeting, held on October 13, 2025, approved the second vesting period of the reserved restricted stock grant under its 2022 Restricted Stock Incentive Plan. This allows 16 eligible incentive recipients to unlock 175,000 shares, representing 0.01% of the company's total share capital. The company's 2024 net profit growth rate of 53.89% exceeded the 50% target, fulfilling the company-level performance condition. Individual performance assessments for the 16 recipients were rated "excellent," qualifying them for 100% vesting.

The second vesting period for the reserved restricted shares, granted on September 28, 2023, concluded on September 27, 2025. This follows several adjustments to the incentive plan's grant and repurchase prices due to dividend distributions in 2023 and 2024. The latest repurchase price adjustment to RMB 23.20 per share, effective after the 2024 full-year profit distribution, remains within the authorized scope of the 2022 First Extraordinary General Meeting.

The board and its remuneration and assessment committee confirmed that the vesting conditions were met and the arrangements comply with relevant laws and regulations. Huadong Medicine will proceed with the necessary procedures for the shares to be listed and circulated following departmental approvals.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SZSE:000963Shenzhen Stock Exchange

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