Shanghai Pharma(601607) 证券之星·2025-03-27 13:34Core Viewpoint - Shanghai Pharmaceuticals Holding Co., Ltd. is proceeding with the cancellation of certain stock options related to its 2019 A-share stock option incentive plan due to the expiration of the exercise periods for these options [1][18]. Group 1: Approval and Authorization of Cancellation - The cancellation of stock options has been approved and authorized by the company's board and supervisory board, in accordance with relevant laws and regulations [3][18]. - The company has provided all necessary factual documents to the legal counsel, ensuring their authenticity and completeness [2]. Group 2: Details of the Stock Option Plan - The 2019 A-share stock option incentive plan initially granted 25.68 million stock options to 211 incentive targets, which was later adjusted to 25.60 million options for 210 targets due to one target's departure [5][6]. - The plan included multiple meetings where adjustments to the incentive targets and stock option quantities were discussed and approved [4][7]. Group 3: Reasons for Cancellation - The cancellation is mandated by the regulations stating that stock options that are not exercised within the designated periods must be terminated and subsequently canceled by the company [17][18]. - Specific stock options being canceled include 2,147,930 options from the third exercise period and 523,815 options from the second reserved stock option period, both of which expired without being exercised [16][18]. Group 4: Conclusion - The legal opinion concludes that the cancellation of stock options has received the necessary approvals and complies with the relevant regulations and the company's articles of association [18].