On the evening of June 26, Zhaoyi Innovation released the 2018 Stock Options and Restricted Stock Incentive Plan (Draft) on the evening of June 26th. The incentive target for this equity incentive plan was for the company’s middle management and its core technical staff, a total of 193 people. • The incentive objects involved in the equity incentive plan do not include independent directors, supervisors and shareholders or actual controllers and their spouses, parents, children who individually or jointly hold more than 5% of the company's shares.
According to the disclosure, the plan includes two parts: the stock options incentive plan and the restricted stock incentive plan. Stock options and restricted stocks will be granted after the relevant procedures are performed. The validity period of this plan stock option is from the date of completion of the registration of the first granted stock options. Up to the maximum of 60 months up to the date of the exercise of all stock options or cancellations. The plan proposes granting a total of 4.3 million shares to the incentive objects. The type of subject stocks involved is RMB A common stock, which accounts for approximately the incentive plan. (Draft) "At the time of the announcement, the company's total capital stock was 283,516,628 shares of 1.52%.
In terms of the number of stocks under the stock option incentive plan, Zhaoyi Innovation intends to award 3.01 million stock options to the incentive target. The type of subject stocks involved is RMB A common stock, which accounts for approximately the total amount of the company’s share capital in the announcement of “Incentive Plan (Draft)”. 28,375.1628 million shares of 1.06%, of which 240.80 million shares were granted for the first time, which accounted for approximately 0.85% of the company’s total capital stock of 287,516.228 shares as of the announcement of the “Incentive Plan (Draft)”, and the first grant of 56.00% of the total equity granted this time; 60.20 million shares, accounting for approximately 0.21% of the Company's total capital of 287,516.228 shares as of the announcement of the "Incentive Plan (Draft)", and the reserved portion accounted for 14.00% of the total equity granted this time. Each stock option meets the condition of exercise. Each stock option granted to the incentive object has the right to purchase one company stock at the exercise price during the validity period.
Zhaoyi Innovation stated that the purpose of the equity incentive plan is to further establish and improve the long-term incentive mechanism of the company to attract and retain outstanding talents, and to fully mobilize the enthusiasm of the company’s middle management personnel and key technical backbones to effectively bring shareholder interests. The company's interests are combined with the core team's personal interests, so that all parties pay attention to the long-term development of the company. Under the premise of fully safeguarding the interests of shareholders, according to the principles of income and contribution equivalence, according to the "Company Law" and "Securities Law" "Management "Regulations" and other relevant laws, regulations and regulatory documents as well as the provisions of the "Articles of Association", the formulation of the equity incentive plan.