Jih Kuang: Board of Directors Resolves to Issue Restricted Stock Units to Employees
Jih Kuang Co., Ltd. has decided to issue a maximum of 1.9 million restricted stock units to employees to attract and retain outstanding talent. This initiative aims to enhance employee motivation and contribution to the company. While a total expense of NT$18.887 million is expected from 2026 to 2028, it is not anticipated to have a material dilutive effect on existing shareholders.
📋 Article Processing Timeline
- 📰 Published: May 13, 2026 at 09:00
- 🔍 Collected: May 14, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 14, 2026 at 08:29 (29 min after Collected)
1. Date of board resolution: 2026/05/13
2. Estimated issuance price: Free issuance.
3. Estimated total issuance (shares): Limited to no more than 1,900,000 shares, approximately 1.47% of the company's issued ordinary shares, with a par value of NT$10 per share, totaling NT$19,000,000.
4. Vesting conditions: After employees are allocated restricted stock units, they must remain employed until the expiration of the following vesting periods, and must meet annual personal performance appraisal results of B (inclusive) or above, and must not have violated the company's labor contracts, work rules, non-compete and confidentiality agreements, or contractual agreements with the company. The vesting ratios are as follows:
I. One year of employment after allocation: 50% of allocated shares; must achieve annual personal performance appraisal of B (inclusive) or above.
II. Two years of employment after allocation: 50% of allocated shares; must achieve annual personal performance appraisal of B (inclusive) or above.
5. Handling of employees who do not meet vesting conditions or in case of inheritance: In the event of failure to meet vesting conditions, the company will reclaim and cancel the shares without compensation. Other matters will be handled in accordance with the issuance rules established by the company.
6. Other issuance conditions: None.
7. Employee qualifications: Limited to full-time employees of the company and its domestic and foreign subsidiaries. The actual allocation of restricted stock units to employees and the number of restricted stock units allocated will be determined by the chairman based on allocation standards considering seniority, job title, overall contribution, operational status, and other factors, and then submitted to the board of directors for approval. For employees who are managers or directors with employee status, prior consent from the Remuneration Committee is required. For employees who are not managers, prior consent from the Audit Committee is required. The cumulative number of restricted stock units obtained by a single employee, plus the cumulative number of shares that can be subscribed through employee stock options issued by the company in accordance with Article 56-1, Paragraph 1 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers, shall not exceed three thousandths of the total issued shares of the company. In addition, the cumulative number of restricted stock units obtained, plus the cumulative number of shares that can be subscribed through employee stock options issued by the company in accordance with Article 56, Paragraph 1 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers, shall not exceed one percent of the total issued shares of the company.
8. Necessity of issuing these restricted stock units: To attract and retain necessary professional talent, motivate employees, and enhance employee cohesion to jointly create benefits for the company and its shareholders.
9. Possible expensed amount: Based on the closing price of the company's common stock on April 30, 2026, which was NT$14.05, the total potential expensed amount is NT$18,887 thousand if all vesting conditions are met (estimated issuance time is October 1, 2026). The expensing impact on 2026~2028 is estimated to be NT$3,638 thousand, NT$11,998 thousand, and NT$3,251 thousand, respectively.
10. Dilution effect on the company's earnings per share (EPS): Based on the vesting conditions and the company's current outstanding shares, the expensing amount's impact on EPS for 2026~2028 is estimated to be NT$0.03, NT$0.09, and NT$0.03, respectively, which is not expected to have a material impact on existing shareholders' equity.
11. Other matters affecting shareholders' equity: None.
12. Rights restricted for employees who are allocated or subscribe for new shares before meeting vesting conditions:
(1) Before meeting vesting conditions, employees allocated new shares may not sell, pledge, transfer, gift to others, encumber, or otherwise dispose of such restricted stock units, except for inheritance.
(2) Before meeting vesting conditions, employees allocated new shares shall have the same rights as the company's issued common shares with respect to attendance at shareholder meetings, proposing motions, speaking, voting, and electing directors, and these rights shall be executed in accordance with the trust custody agreement.
(3) Before meeting vesting conditions, other rights of restricted stock units allocated to employees under these rules, including but not limited to: rights to dividends, profit distribution, legal reserves, and capital reserves, shall not include the right to profit distribution. Relevant operations shall be executed in accordance with the trust custody agreement.
(4) During the period from the book closure date for the company's free share distribution, the book closure date for cash dividends, the book closure date for capital increase subscriptions, the book closure period for shareholder meetings stipulated in Article 165, Paragraph 3 of the Company Act, or other legally stipulated book closure periods arising from actual events until the record date for rights distribution, employees who meet vesting conditions during this period shall have the restrictions on their vested shares lifted according to the trust custody agreement or relevant laws and regulations.
13. Other important agreements (including trust custody of shares, etc.): The restricted stock units issued by the company will be handled by means of trust custody of shares before the vesting conditions are met.
14. Other matters that need to be specified: None.
2. Estimated issuance price: Free issuance.
3. Estimated total issuance (shares): Limited to no more than 1,900,000 shares, approximately 1.47% of the company's issued ordinary shares, with a par value of NT$10 per share, totaling NT$19,000,000.
4. Vesting conditions: After employees are allocated restricted stock units, they must remain employed until the expiration of the following vesting periods, and must meet annual personal performance appraisal results of B (inclusive) or above, and must not have violated the company's labor contracts, work rules, non-compete and confidentiality agreements, or contractual agreements with the company. The vesting ratios are as follows:
I. One year of employment after allocation: 50% of allocated shares; must achieve annual personal performance appraisal of B (inclusive) or above.
II. Two years of employment after allocation: 50% of allocated shares; must achieve annual personal performance appraisal of B (inclusive) or above.
5. Handling of employees who do not meet vesting conditions or in case of inheritance: In the event of failure to meet vesting conditions, the company will reclaim and cancel the shares without compensation. Other matters will be handled in accordance with the issuance rules established by the company.
6. Other issuance conditions: None.
7. Employee qualifications: Limited to full-time employees of the company and its domestic and foreign subsidiaries. The actual allocation of restricted stock units to employees and the number of restricted stock units allocated will be determined by the chairman based on allocation standards considering seniority, job title, overall contribution, operational status, and other factors, and then submitted to the board of directors for approval. For employees who are managers or directors with employee status, prior consent from the Remuneration Committee is required. For employees who are not managers, prior consent from the Audit Committee is required. The cumulative number of restricted stock units obtained by a single employee, plus the cumulative number of shares that can be subscribed through employee stock options issued by the company in accordance with Article 56-1, Paragraph 1 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers, shall not exceed three thousandths of the total issued shares of the company. In addition, the cumulative number of restricted stock units obtained, plus the cumulative number of shares that can be subscribed through employee stock options issued by the company in accordance with Article 56, Paragraph 1 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers, shall not exceed one percent of the total issued shares of the company.
8. Necessity of issuing these restricted stock units: To attract and retain necessary professional talent, motivate employees, and enhance employee cohesion to jointly create benefits for the company and its shareholders.
9. Possible expensed amount: Based on the closing price of the company's common stock on April 30, 2026, which was NT$14.05, the total potential expensed amount is NT$18,887 thousand if all vesting conditions are met (estimated issuance time is October 1, 2026). The expensing impact on 2026~2028 is estimated to be NT$3,638 thousand, NT$11,998 thousand, and NT$3,251 thousand, respectively.
10. Dilution effect on the company's earnings per share (EPS): Based on the vesting conditions and the company's current outstanding shares, the expensing amount's impact on EPS for 2026~2028 is estimated to be NT$0.03, NT$0.09, and NT$0.03, respectively, which is not expected to have a material impact on existing shareholders' equity.
11. Other matters affecting shareholders' equity: None.
12. Rights restricted for employees who are allocated or subscribe for new shares before meeting vesting conditions:
(1) Before meeting vesting conditions, employees allocated new shares may not sell, pledge, transfer, gift to others, encumber, or otherwise dispose of such restricted stock units, except for inheritance.
(2) Before meeting vesting conditions, employees allocated new shares shall have the same rights as the company's issued common shares with respect to attendance at shareholder meetings, proposing motions, speaking, voting, and electing directors, and these rights shall be executed in accordance with the trust custody agreement.
(3) Before meeting vesting conditions, other rights of restricted stock units allocated to employees under these rules, including but not limited to: rights to dividends, profit distribution, legal reserves, and capital reserves, shall not include the right to profit distribution. Relevant operations shall be executed in accordance with the trust custody agreement.
(4) During the period from the book closure date for the company's free share distribution, the book closure date for cash dividends, the book closure date for capital increase subscriptions, the book closure period for shareholder meetings stipulated in Article 165, Paragraph 3 of the Company Act, or other legally stipulated book closure periods arising from actual events until the record date for rights distribution, employees who meet vesting conditions during this period shall have the restrictions on their vested shares lifted according to the trust custody agreement or relevant laws and regulations.
13. Other important agreements (including trust custody of shares, etc.): The restricted stock units issued by the company will be handled by means of trust custody of shares before the vesting conditions are met.
14. Other matters that need to be specified: None.