Moon Environment unlocks first tranche of restricted executive shares

Moon Environment Technology announced the lifting of restrictions for the first period of its 2023 restricted stock incentive plan, affecting 286,000 shares held by two incentive recipients. This represents 0.0288% of the company's current total share capital of 992,638,145 shares. The shares, originally granted on November 9, 2023, will become available for circulation on November 21, 2025, following the expiration of the 24-month lock-up period.

The lifting of restrictions is contingent on both company-level performance and individual performance assessments. The company successfully met its 2023 financial targets, including a net profit growth rate of 131.28% (exceeding the 34% target), an average net asset yield of 11.10% (above the 6.00% target), and a debt-to-asset ratio of 49.72% (below the 60% target). Both eligible incentive recipients achieved an "A" rating in their individual performance evaluations, allowing for a 100% lifting of restrictions of their allocated shares for this period.

The 286,000 shares correspond to 40% of the total restricted shares initially granted to the two individuals, chairman Li Zengqun (208,000 shares) and vice president Ge Yunjiang (78,000 shares). These shares originate from a private placement of A-shares.