Board Resolves to Cancel Forfeited Restricted Employee Shares, Reducing Capital
Original: 公告本公司董事會決議辦理限制員工權利新股收回註銷 減資事宜
Summary
Vanguard International Semiconductor's board of directors resolved to recall and cancel restricted employee rights shares (restricted stock awards) that have been forfeited, with a corresponding reduction in registered capital. This is a routine administrative procedure under Taiwan's restricted stock award framework: unvested shares forfeited by departing or non-qualifying employees must be bought back and cancelled, reducing paid-in capital by the par value of the cancelled shares. Full body available on MOPS.
Full Translation
The company announces that its board of directors has resolved to carry out the recall and cancellation of previously issued restricted employee rights new shares (限制員工權利新股), and to proceed with the associated capital reduction (減資) formalities. Under Taiwan's restricted stock award regulations, shares granted to employees under a restricted rights plan that are subsequently forfeited — typically due to departure before vesting or failure to meet performance conditions — must be repurchased by the company and formally cancelled, resulting in a reduction of the company's registered paid-in capital equal to the par value of the cancelled shares. This resolution authorises management to complete the necessary legal and regulatory filings to effect that cancellation. [Body not available — subject line only. See MOPS for full announcement.]