A deputy general manager of a state-owned energy enterprise has been granted additional incentive shares, with his annual compensation reaching 4.08 million yuan.
YANCOAL AUS (03668) has announced that the company, on June 11, 2026, granted 104,250 deferred performance shares under the company's vesting plan to Mr. Yue Ning, the company's Co-Vice Chairman and Executive Director. These shares are part of the short-term assessment vesting plan, which was approved by the company's shareholders at the Annual General Meeting held on May 28, 2026.
On June 11, 2026, the company granted a total of 104,250 short-term assessment vesting plan shares to Co-Vice Chairman and Executive Director Mr. Yue Ning at no cost. This grant is part of the short-term assessment vesting plan under the overall vesting plan, designed to reward eligible participants for achieving company business objectives and personal goals aligned with the company's financial, operational, and strategic priorities.
The short-term assessment vesting plan shares will vest in equal installments over two years. 52,125 shares are scheduled to vest on March 1, 2027, with the remaining 52,125 shares vesting on March 1, 2028, subject to the discretion of the company's board of directors. The board also has the discretion to settle these shares in equity or cash.
If the short-term assessment vesting plan shares are vested and exercised and settled entirely in fully paid ordinary shares of the company, Mr. Yue Ning will be entitled to receive 1 share for each short-term assessment vesting plan share. As of the date of this announcement, the 104,250 shares involved in the grant to Mr. Yue Ning represent approximately 0.008% of the company's total issued share capital.
It is noteworthy that Mr. Yue Ning, the recipient of this equity incentive, is also a key management figure at Yankuang Energy Group Company Limited (600188.SH), a core listed subsidiary of Shandong Energy Group. According to Yankuang Energy's 2025 annual report, Mr. Yue Ning, serving as Deputy General Manager, received a total pre-tax remuneration of 4.0785 million yuan from the company during the reporting period.
Mr. Yue Ning, male, born in August 1978, holds the title of Engineering Technology Application Researcher and a university degree from China University of Mining and Technology. He currently serves as the Deputy General Manager of Yankuang Energy Group Company Limited and concurrently holds the positions of Executive Director, Co-Vice Chairman, and Chairman of the Executive Committee at YANCOAL AUS.
His career includes serving as Chief Engineer at the Jinjitan Coal Mine of Shaanxi Future Energy Chemical Co., Ltd. in June 2015, becoming Deputy Mine Manager in December 2018, and being promoted to Mine Manager in April 2020. During his tenure, he promoted intelligent construction projects such as a 10-gigabit industrial backbone network platform and an industrial cloud data center, achieving the normalized operation of an intelligent mining system (with hydraulic support automatic follow-up rate reaching 95%) and unattended operation in key areas. He has also been a keynote speaker proposing goals for building "four-type" mines that are safe, green, intelligent, and efficient.
He was transferred to the management of YANCOAL AUS in September 2023 and was appointed Deputy General Manager of Yankuang Energy by a board resolution on October 27 of the same year.
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