Guide Infrared employee stock plan nears unlocking for 13m shares

Wuhan Guide Infrared announced that the third lock-up period for its 2022 employee stock ownership plan will expire on December 26, 2025. This plan, approved in late 2022, saw 25,469,082 shares transferred to the employee stock ownership plan account on December 26, 2022, at a price of 5.91 yuan per share, representing 0.7753% of the company's total share capital at the time. Following a 2023 equity distribution, the total shares held by the plan increased to 33,109,806 shares, maintaining 0.7753% of the current total share capital.

Upon expiration of the third lock-up period, 40% of the plan's total shares, amounting to 13,082,132 shares, will become eligible for unlocking. These shares represent 0.3063% of the company's current total share capital, with the remaining 6,919,168 shares remaining locked. The unlocking is contingent on participants' performance evaluations for the 2022-2025 period, with varying release percentages based on individual assessment ratings.

The plan allows for two options upon unlocking: participants can authorize the management committee to sell their shares, or they can opt to have the shares transferred to their personal accounts for individual disposal. The company emphasized adherence to market trading rules and regulations concerning insider trading. The plan has a maximum duration of 10 years, with provisions for extension under specific circumstances.