On November 7th, Geelong announced that on November 7, 2024, the company received the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Corporation Shenzhen Branch, transferring 7,390,000 shares of the company's stock held in the company's repurchase special securities account to "Zhejiang Jinggong Integration Technology Co., Ltd. - 2024 Employee Stock Ownership Plan" on November 6, 2024, at a transfer price of 7.88 yuan per share. As of the date of the announcement, the number of company shares held by the company's 2024 employee stock ownership plan securities account is 7,390,000 shares, accounting for 1.62% of the company's total share capital.
According to the "2024 Employee Stock Ownership Plan (Draft)" , the duration of this employee stock ownership plan is 48 months, calculated from the date when the final target stocks of the employee stock ownership plan are transferred to the plan's name after the draft of the ownership plan is approved by the company's shareholders meeting and announced. The target stocks received by the participants will be unlocked in three batches after 12 months, 24 months, and 36 months from the date of the final target stocks' transfer to the employee stock ownership plan's name, with unlocking proportions of 32%, 30%, and 38% respectively. The specific unlocking proportions and quantities for each year are calculated based on the company's performance indicators and the evaluations of the holders.
