Longping High-Tech completes first employee stock ownership plan

Yuan Longping High-Tech Agriculture Co., Ltd. (Longping High-Tech) has announced the full completion of its first phase employee stock ownership plan (ESOP) for its long-term service plan. The company's ESOP management committee confirmed that all shares held under the plan were divested via block trades between July 24, 2023, and December 17, 2025. A total of 23,001,458 shares were sold, representing 1.57% of the company's total share capital. The receiving parties are not affiliated with nor act in concert with shareholders holding 5% or more of the company's shares.

The ESOP involved 23,001,458 shares acquired through a share repurchase program. The first vesting period ended on June 17, 2023, releasing 6,900,437 shares (0.52% of total share capital) after meeting 2022 performance targets. The second vesting period concluded on June 17, 2024, releasing another 6,900,437 shares (0.52% of total share capital) based on 2023 performance. The third and final vesting period, ending June 17, 2025, released 9,200,584 shares (0.63% of total share capital) following 2024 performance achievements.

With all shares now converted to monetary assets, the ESOP management committee will proceed with the liquidation and distribution of proceeds as per the plan's regulations. The company asserts that all transactions during the plan's implementation adhered to market rules and regulations.