Fibocom Wireless Inc. (Stock code: 00638) has issued a circular detailing its proposed 2026 Employee Stock Ownership Plan (ESOP), along with an announcement of an extraordinary general meeting (EGM) to be held at 2:30 p.m. on March 5, 2026, in Shenzhen.

According to the circular dated February 9, 2026, the ESOP has a maximum total fund size of RMB39.6822 million, which may acquire up to 2,627,960 repurchased A shares. This potential volume accounts for approximately 0.29% of Fibocom’s existing total share capital. The plan is anticipated to cover no more than 269 participants, including four directors and senior management members who collectively may subscribe for up to 17.89% of the plan's units.

The proposed lock-up period is 12 months from the date of the final share transfer, with a total duration of 60 months. After lock-up, the ESOP shares are scheduled to vest over three phases (30%, 30%, and 40%). Vesting remains contingent on a set of performance metrics, primarily tied to revenue growth targets between 2026 and 2028 against a base year of 2025. Individual performance assessments will further affect the actual vesting ratio.

The Company has emphasized that the ESOP is self-managed and subject to regulatory provisions, including those on trading lock-up periods and insider information. It intends for the ESOP to help align employee interests with long-term corporate growth and improve corporate governance. Shareholders are invited to vote on the relevant resolutions at the upcoming March 5, 2026 EGM, where the plan’s adoption and other measures related to the ESOP will be deliberated.