Fibocom Wireless (00638.HK) announced the '2026 Employee Stock Ownership Plan (Draft),' which aims to implement an employee stock ownership plan through the transfer of repurchased company shares. This initiative seeks to establish a long-term incentive mechanism, enhance the sense of belonging among the core team, and strengthen the company's long-term competitiveness.
The scope of participants in the plan includes company directors (excluding independent directors), senior management personnel, mid-level managers, as well as technical and business backbone employees. The initial number of participants will not exceed 269 individuals, with the final list determined based on actual contributions. The funding sources include employees' legitimate compensation, self-raised funds, and other compliant methods, with the total planned funding capped at RMB 39.6822 million (hereinafter referred to as RMB).
Regarding the source of shares, the plan will acquire A-shares from the company’s dedicated repurchase securities account via non-trading transfer within six months after shareholder approval. The transfer price will be RMB 15.1 per share. At the maximum allocation, the plan involves no more than approximately 2.628 million shares, representing approximately 0.29% of the company’s current total equity.
The duration of the stock ownership plan is 60 months, including a lock-up period of 12 months, followed by vesting in three tranches of 30%, 30%, and 40%. The company noted that the plan is subject to shareholder approval and carries uncertainties; however, it is not expected to affect public shareholding or the listing status. Progress updates will be disclosed in due course.
