Sunflower Pharmaceutical completes employee stock plan, selling all shares

Sunflower Pharmaceutical Group announced the completion of its 2022 employee stock ownership plan, with all shares held by the plan now sold. The plan, which began implementation in August 2022, held 2,950,060 shares, representing 0.51% of the company's total share capital. These shares were initially transferred to the plan on October 27, 2022, at a price of 7.50 yuan per share.

The plan had a 48-month duration with three unlocking periods. The first two periods' performance targets were met, leading to the unlocking of 885,018 shares and 1,032,521 shares, respectively. However, the third period's performance target was not achieved, resulting in 0 shares being unlocked for that period. Any un-unlocked shares were recovered by the management committee and sold, with proceeds to be returned to holders and any remaining profits accruing to the company.

All 2,950,060 shares have been sold through concentrated bidding in the secondary market. Following the completion of all unlocking periods and sales, the plan will now proceed with property liquidation and distribution. The company affirmed its strict adherence to market trading rules and regulations concerning insider information during the plan's implementation.