Intco Recycling announced that it will cancel a total of 910,300 Class I restricted shares on July 29, 2026, involving the 2022 and 2025 restricted stock incentive plans. Under the 2022 plan, 439,300 shares will be repurchased and canceled due to the departure of 23 incentive recipients and the company's failure to meet performance targets, at a repurchase price of 19.89 yuan per share, with some shares also accruing interest at the bank's time deposit rate for the corresponding period. Under the 2025 plan, 471,000 shares will be repurchased and canceled due to the departure of 47 incentive recipients, at a repurchase price of 11.79 yuan per share plus interest at the bank's time deposit rate for the corresponding period. The repurchase and cancellation have been approved by the board of directors and the shareholders' meeting, and the creditor notification process has been completed without objections. After the cancellation, the company's total share capital will decrease from 194 million shares to 193 million shares, with zero shares remaining under the 2022 plan and 6,899,000 shares remaining under the 2025 plan.
Shandong Intco Recycling Resources Co LtdCompany cancels restricted shares due to departure of recipients and failure to meet performance targets, indicating weak performance and employee retention issues.