NanJi E-commerce revises employee stock ownership plan

NanJi E-commerce has revised its Fourth Employee Stock Ownership Plan, shifting oversight responsibilities and adjusting key operational procedures. The company's compensation and assessment committee will now verify participant lists, replacing the previous role of the supervisory board. This committee will also oversee the verification of second-batch participant lists and assess the plan's alignment with sustained company development and shareholder interests.

The amendments also refine shareholding lockout periods by explicitly referencing the "Administrative Rules for Shareholding and Changes in Shareholdings of Directors, Supervisors, and Senior Management of Listed Companies" for defining sensitive periods. Unlocked shares, if performance targets are not met, will be reallocated from the first batch to the second batch for future granting, with the original capital contribution plus bank deposit interest returned to participants. Previously, these funds would have reverted to the company.

Furthermore, the revised plan clarifies that the compensation and assessment committee will be involved in reviewing employee stock ownership plans and associated matters, including instances where directors, supervisors, and senior management participate. This committee will also handle the verification of participant lists and assess the plan's overall benefit to the company and its shareholders.