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Daqo New Energy Adopts 2022 Share Incentive Plan and Grants RSUs to Its Key Employees, Directors, and Officers – EQ Mag Pro

Daqo New Energy Adopts 2022 Share Incentive Plan and Grants RSUs to Its Key Employees, Directors, and Officers – EQ Mag Pro

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SHANGHAI : Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy”, the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that the Company’s board of directors has approved its 2022 share incentive plan in order to attract and retain the best available talents and provide additional incentives to its key employees, directors and officers.

The aggregate number of shares issuable under the 2022 share incentive plan is 37,253,465 ordinary shares, which represents approximately 10% of the Company’s total outstanding ordinary shares. The Company granted 37,253,465 restricted share units (“RSUs”) to its key employees, directors and officers on August 10, 2022. Each of the Company’s American Depositary Shares (“ADSs”) represents five ordinary shares. Based on the closing price of $70.71 per ADS of the Company on August 10, 2022, the Company expects to recognize approximately $263.4 million of non-cash share-based compensation expenses in the third quarter of 2022, and approximately $7.3 million of non-cash share-based compensation expenses in each of the months commencing from October 2022 to September 2025.

About Daqo New Energy Corp.

Daqo New Energy Corp. (NYSE: DQ) (“Daqo” or the “Company”) is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Founded in 2007, the Company manufactures and sells high-purity polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 105,000 metric tons and is one of the world’s lowest cost producers of high-purity polysilicon.

Anand Gupta Editor - EQ Int'l Media Network