It was announced on December 29 that the company plans to launch an employee stock ownership plan. This is the first time since Befar Group Co.Ltd(601678) was listed. After the new management of the company took office, it quickly launched a medium and long-term employee stock ownership plan covering the middle and senior levels, which is conducive to deeply binding the company’s long-term development objectives with the interests of employees, establishing and improving the benefit sharing mechanism of employees and shareholders, and improving the level of corporate governance, Improve the cohesion of employees and the competitiveness of the company, mobilize the enthusiasm and creativity of employees, and promote the long-term, sustainable and healthy development of the company. At the same time, the company has set a high exercise index for the employee stock ownership plan, which reflects the development confidence of the company.
The employee stock ownership plan covers a wide range. According to the announcement, the participants of the employee stock ownership plan are the company’s directors (excluding independent directors), supervisors, senior managers and middle managers, with a total number of no more than 267, including 12 directors, supervisors and senior managers. The specific number of participants is determined according to the actual contributions of employees.
The shares of the company’s employee stock ownership plan come from the shares repurchased by the company’s special securities account. The total number of shares does not exceed about 39.4 million, accounting for 2% of the company’s current total share capital. The share repurchase price of the transferee company of the employee stock ownership plan is 3 yuan / share, accounting for about 60% of the average repurchase price of 4.96 yuan / share in the secondary market. The duration of the employee stock ownership plan is 48 months from the date when the company announces the transfer of the corresponding part of the underlying shares to the name of the employee stock ownership plan, with a maximum of 60 months.
The company has set a high exercise index for the employee stock ownership plan. The underlying shares obtained by the employee stock ownership plan will be unlocked in three batches. According to the announcement, the employee stock ownership plan will assess the company’s performance indicators annually in the three fiscal years from 2022 to 2024. Based on the deduction of non net profit in 2020, the trigger values of performance indicators for exercise in 2022, 2023 and 2024 are respectively that the cumulative net profit in 2021-2022, 2021-2023 and 2021-2024 will increase by 395%, 515% and 665% relative to 2020, The target values were 425%, 575% and 762%, respectively.
(China Securities Journal · China Securities Network)
