On February 15, Fujian Forecam Optics Co.Ltd(688010) (688010. SH) announced the No. 1 shareholding plan (Draft) of zhuoguangzhi. The participants are directors (excluding independent directors), senior managers, supervisors and key personnel who “play an important role and influence on the overall performance and medium and long-term development of the company”. The total number of employees is no more than 81.
It is worth noting that the shares of the shareholding plan are obtained and held by the shares repurchased by Fujian Forecam Optics Co.Ltd(688010) at zero price, without the investment of the participants, and the scale is no more than 120000 shares, accounting for 0.08% of the current total share capital of the company. This means that the employees of Fujian Forecam Optics Co.Ltd(688010) can get the incentive shares free of charge.
On May 12, 2021, Fujian Forecam Optics Co.Ltd(688010) completed a round of repurchase, and actually repurchased 1153000 shares of the company, accounting for 0.75% of the total share capital of the company. The average repurchase price was about 26.01 yuan / share, and the total capital used was 29.9921 million yuan (excluding transaction commissions, transfer fees and other transaction costs).
In addition, the shares obtained by the shareholding plan are unlocked in two phases. The unlocking time points are 12 months and 24 months from the date of Fujian Forecam Optics Co.Ltd(688010) announcing the last transfer of the subject shares to the name of the shareholding plan. The proportion of the subject shares unlocked in each phase is 50% and 50% respectively.
In addition to the equity incentive given by zero yuan, it is even more incredible that Fujian Forecam Optics Co.Ltd(688010) ‘s shareholding plan does not need performance evaluation, which is equal to unconditional free gift.
The explanation given by Fujian Forecam Optics Co.Ltd(688010) is that the participants in this stock ownership plan are the core management team and backbone personnel of the company, which have an important impact on the business development and strategic realization of the company. Based on the affirmation and return of the past work and contribution of the above employees, in order to prevent brain drain, enhance the stability of the talent team and continue to develop together with the company for a long time, By properly lowering the performance threshold, the enthusiasm and creativity of employees can be fully mobilized. Therefore, the company level performance assessment objectives are not set in this shareholding plan.
However, from the performance of Fujian Forecam Optics Co.Ltd(688010) in recent years, the company’s statement is far fetched. From 2017 to 2020, the company’s operating revenue almost stagnated, and the deduction of non net profit continued to decline, from 76.2173 million yuan in 2019 to 38.0956 million yuan in 2020. In terms of stock price performance, compared with the historical highest price of nearly 95 yuan in 2019, Fujian Forecam Optics Co.Ltd(688010) the current stock price has fallen by nearly 70%.
In fact, the so-called zero cost is ultimately borne by the listed company Fujian Forecam Optics Co.Ltd(688010) , that is, all shareholders. Taking the latest closing price of 26.54 yuan / share on Fujian Forecam Optics Co.Ltd(688010) February 15 as a reference, the company should confirm that the total cost of this shareholding plan is expected to be 3.1848 million yuan, which shall be apportioned by the company according to the proportion of each lifting of restrictions during the lock-in period.
