[Jetec] Announcement of Board Resolution to Issue Restricted Employee Stock Options
Jetec's Board of Directors has resolved to issue restricted stock options, totaling 500,000 shares with a face value of NT$10 each, for an estimated issuance value of NT$5 million. This initiative aims to attract and retain key talent, with an estimated expense of NT$1.88 billion and potential EPS dilution.
📋 Article Processing Timeline
- 📰 Published: April 15, 2026 at 09:00
- 🔍 Collected: April 16, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: April 19, 2026 at 00:58 (64h 58m after Collected)
1. Board Resolution Date: 115/04/15
2. Expected Issue Price: Issued at NT$0 per share, i.e., without cash consideration (gratuitous distribution) to employees.
3. Total Expected Issuance Amount (Shares): Total issuance of NT$5,000,000, with a par value of NT$10 per share, totaling 500,000 shares.
4. Vesting Conditions:
Employees who remain employed from the grant date (i.e., capital increase record date) until the completion of the following timelines and achieve the performance conditions stipulated for each employee at the time of grant can attain vested shares according to the following proportions:
Vested shares are divided into Type A and Type B, with performance achievement as the vesting condition.
(A) Type A Vesting Period: Current Year. Employees who are granted restricted stock options and receive an "Excellent" performance rating in the year of grant can vest 100% of their granted shares.
(B) Type B Vesting Period: Three Years. Employees who are granted restricted stock options and receive an "Excellent" performance rating in the year of grant can vest 20% of their granted shares; additionally, upon completing three years of employment after grant and achieving "Excellent" or above in the latest two performance reviews, they can vest 80% of their granted shares.
5. Handling of Employees Not Meeting Vesting Conditions or Upon Inheritance:
If vesting conditions are not met, the company will unconditionally reacquire and cancel the shares. Other circumstances will be handled in accordance with the company's issued regulations.
6. Other Issuance Conditions: None.
7. Eligibility Criteria for Employees:
(1) Limited to full-time regular employees of the company and its domestic/overseas controlled or subsidiary companies who have reported for duty on the grant date of restricted employee stock options.
(2) The actual employees granted and the number of restricted stock options they can receive will be determined by considering factors such as years of service, job level, work performance, overall contribution, special merits, or other management-referenced conditions, subject to the Chairman's approval and submission to the Board of Directors.
(3) The limit on the number of restricted stock options that a single employee can be granted or subscribe to shall comply with relevant regulations of the "Regulations Governing Issuance of Securities by Publicly Offered Companies."
8. Necessity of Issuing Restricted Employee Stock Options:
To attract and retain key outstanding talent, achieve the company's mid-to-long-term goals, motivate employees to fully pursue company operational objectives, and thereby create higher benefits for the company and shareholders, while ensuring alignment between employee and shareholder interests.
9. Amount of Potential Amortization:
The company shall measure the fair value of the shares on the grant date and recognize related expenses annually during the vesting period. Based on the current 146,732,803 shares outstanding, the estimated issuance of restricted employee stock options represents approximately 0.341% of the total outstanding shares. The estimated total expense for full issuance is approximately NT$1,880,000 thousand, with estimated annual amortization expenses from 115 to 118 being NT$1,052,800 thousand, NT$300,800 thousand, NT$300,800 thousand, and NT$225,600 thousand, respectively.
10. Dilution Effect on Earnings Per Share:
Calculated based on the stipulated vesting period and the current number of outstanding shares, the estimated reduction in earnings per share from 115 to 118 is NT$7.18, NT$2.05, NT$2.05, and NT$1.54, respectively, which is not expected to have a material impact on shareholder equity.
11. Other Matters Affecting Shareholder Equity: None.
12. Rights Restricted for Employees Before Vesting After Receiving or Subscribing to New Shares:
During the vesting period, employees shall not sell, pledge, transfer, gift, set encumbrances on, or otherwise dispose of these restricted employee stock options. Other restrictions on rights shall be handled in accordance with the company's issued regulations.
13. Other Important Agreements (Including Trust and Custody of Shares, etc.):
During the trust period of restricted employee stock options, the company shall fully represent the employees in negotiating, signing, amending, extending, releasing, and terminating trust/custody agreements with the stock trust/custody institution, and in directing the delivery, utilization, and disposal of trust/custody assets.
14. Other Matters to be Notified:
All terms and conditions for the issuance of restricted employee stock options in this instance, if subject to revision or amendment due to instructions from regulatory authorities, changes in relevant laws and regulations, or adjustments to financial market conditions, are proposed to be authorized by the Shareholders' Meeting for the Board of Directors or its authorized representative to handle comprehensively.
2. Expected Issue Price: Issued at NT$0 per share, i.e., without cash consideration (gratuitous distribution) to employees.
3. Total Expected Issuance Amount (Shares): Total issuance of NT$5,000,000, with a par value of NT$10 per share, totaling 500,000 shares.
4. Vesting Conditions:
Employees who remain employed from the grant date (i.e., capital increase record date) until the completion of the following timelines and achieve the performance conditions stipulated for each employee at the time of grant can attain vested shares according to the following proportions:
Vested shares are divided into Type A and Type B, with performance achievement as the vesting condition.
(A) Type A Vesting Period: Current Year. Employees who are granted restricted stock options and receive an "Excellent" performance rating in the year of grant can vest 100% of their granted shares.
(B) Type B Vesting Period: Three Years. Employees who are granted restricted stock options and receive an "Excellent" performance rating in the year of grant can vest 20% of their granted shares; additionally, upon completing three years of employment after grant and achieving "Excellent" or above in the latest two performance reviews, they can vest 80% of their granted shares.
5. Handling of Employees Not Meeting Vesting Conditions or Upon Inheritance:
If vesting conditions are not met, the company will unconditionally reacquire and cancel the shares. Other circumstances will be handled in accordance with the company's issued regulations.
6. Other Issuance Conditions: None.
7. Eligibility Criteria for Employees:
(1) Limited to full-time regular employees of the company and its domestic/overseas controlled or subsidiary companies who have reported for duty on the grant date of restricted employee stock options.
(2) The actual employees granted and the number of restricted stock options they can receive will be determined by considering factors such as years of service, job level, work performance, overall contribution, special merits, or other management-referenced conditions, subject to the Chairman's approval and submission to the Board of Directors.
(3) The limit on the number of restricted stock options that a single employee can be granted or subscribe to shall comply with relevant regulations of the "Regulations Governing Issuance of Securities by Publicly Offered Companies."
8. Necessity of Issuing Restricted Employee Stock Options:
To attract and retain key outstanding talent, achieve the company's mid-to-long-term goals, motivate employees to fully pursue company operational objectives, and thereby create higher benefits for the company and shareholders, while ensuring alignment between employee and shareholder interests.
9. Amount of Potential Amortization:
The company shall measure the fair value of the shares on the grant date and recognize related expenses annually during the vesting period. Based on the current 146,732,803 shares outstanding, the estimated issuance of restricted employee stock options represents approximately 0.341% of the total outstanding shares. The estimated total expense for full issuance is approximately NT$1,880,000 thousand, with estimated annual amortization expenses from 115 to 118 being NT$1,052,800 thousand, NT$300,800 thousand, NT$300,800 thousand, and NT$225,600 thousand, respectively.
10. Dilution Effect on Earnings Per Share:
Calculated based on the stipulated vesting period and the current number of outstanding shares, the estimated reduction in earnings per share from 115 to 118 is NT$7.18, NT$2.05, NT$2.05, and NT$1.54, respectively, which is not expected to have a material impact on shareholder equity.
11. Other Matters Affecting Shareholder Equity: None.
12. Rights Restricted for Employees Before Vesting After Receiving or Subscribing to New Shares:
During the vesting period, employees shall not sell, pledge, transfer, gift, set encumbrances on, or otherwise dispose of these restricted employee stock options. Other restrictions on rights shall be handled in accordance with the company's issued regulations.
13. Other Important Agreements (Including Trust and Custody of Shares, etc.):
During the trust period of restricted employee stock options, the company shall fully represent the employees in negotiating, signing, amending, extending, releasing, and terminating trust/custody agreements with the stock trust/custody institution, and in directing the delivery, utilization, and disposal of trust/custody assets.
14. Other Matters to be Notified:
All terms and conditions for the issuance of restricted employee stock options in this instance, if subject to revision or amendment due to instructions from regulatory authorities, changes in relevant laws and regulations, or adjustments to financial market conditions, are proposed to be authorized by the Shareholders' Meeting for the Board of Directors or its authorized representative to handle comprehensively.