Sanyuan Foods announced it will repurchase and cancel a total of 4.5316 million restricted shares held by 144 incentive recipients that have been granted but not yet unlocked on August 21, accounting for about 0.30% of the company's current total share capital. The reason for this repurchase and cancellation is that the company-level performance assessment target for the third unlocking period of the 2022 restricted stock incentive plan was not met, and the unlocking conditions were not fulfilled. The repurchase and cancellation price will be determined based on the lower of the adjusted grant price and the market price. After the repurchase and cancellation is completed, the company's total share capital will change from 1.502 billion shares to 1.498 billion shares, and the 2022 restricted stock incentive plan will be fully implemented.
Beijing Sanyuan Foods Co LtdCompany repurchases and cancels restricted shares due to unmet performance targets, indicating failure of incentive plan.
