Gree pushes the largest employee stock ownership plan in history, Dong Mingzhu may subscribe 30% to become the eighth largest shareholder

Gli pushed the largest employee shareholding plan in history. Dong Mingzhu or subscribed 30% to become the eighth largest shareholder, Gree Electric Appliances issued a notice on the evening of June 20, disclosing the relevant information of the first phase employee shareholding plan (Draft) of the company.

According to the announcement, the total number of Gree Electric's ESOP this time may reach 12000, and the capital scale of the ESOP does not exceed 3 billion yuan. The planned stock source is the repurchase of shares in the special account of the company, with the stock size of no more than 108million shares, accounting for 1.80% of the current total share capital of the company. This initial capital scale is the highest in A-share market this year.

In terms of price, the price of the employee stock purchase plan to buy back shares of the company is 27.68 yuan / share, which is 50% of the average price of the shares purchased by the company in accordance with the proposal on the scheme of repurchase of some public shares approved by the 10th meeting of the 11th board of directors. In other words, Gree employees can buy company shares "at half price.".

The scope of the holders of the ESOP includes the directors (excluding independent directors), supervisors, senior managers of the company, as well as the middle-level cadres and core employees who are recognized by the board of directors as having an important role in the overall performance and medium and long-term development of the company.

The plan covers more employees. According to the announcement, the total number of employees to participate in the ESOP is no more than 12000, and the final number and list of participants will be determined according to the actual payment of employees. According to the annual report of Gree Electric 2020, the number of employees of gree in the current period is about 8400, and the proportion of the shareholding plan is 14.3%.

This plan has two evaluation indexes, namely, the company's and individual's performance evaluation indexes.

The company's performance indicators are: the net profit in 2021 will increase by no less than 10% compared with that in 2020, and the cash dividend per share in that year will not be less than 2 yuan or the total cash dividend will not be less than 50% of the net profit in that year; The net profit in 2022 will increase by no less than 20% compared with that in 2020, and the cash dividend per share in that year will not be less than 2 yuan or the total cash dividend will not be less than 50% of the net profit in that year.

Personal performance appraisal will be carried out according to the company's internal personal performance appraisal methods.

It is worth noting that dongmingzhu, chairman and President of Gli electric, has "deeply participated" the employee shareholding plan. The maximum number of shares to be subscribed is 30million shares, and the maximum amount of investment proposed is about 830 million yuan, accounting for 27.68% of the employee shareholding plan.

According to the current share price of about 50 yuan of Gli electric, dongmingzhu Dingge will subscribe for the above-mentioned employee shareholding plan, and the floating earnings will exceed 800million. Many investors think that Dong Mingzhu's move is "benefit transfer".

Liu buchen, an analyst in the household appliance industry, said to the interface news: the essence of equity incentive is to motivate the middle and senior management and core employees. Generally speaking, the "middle and senior management" does not include the members of the core decision-making layer such as chairman, President and general manager, because these people have been given greater power and have more shares, Personal interests have been deeply bound with the interests of the company, and there is no need for repeated incentives. This can be seen from the cases of famous enterprises such as Haier, Meimei, boss and Huadi.

"If the shares of the core decision-makers of a company are obviously too large when implementing equity incentive, and the cost of obtaining shares is obviously low, it is easy to leave an excuse for attack to the outside world." Liu buchen said.

However, some investors believe that Dong Mingzhu has a low share holding amount at present, and it is a reasonable behavior to increase the shareholding: "dongmingzhu has no 1% equity, which is unreasonable. She needs to take enough equity to realize control."

According to the financial report of Gree Electric, dongmingzhu has only 44488500 shares, with the share of 0.74%, ranking the last among the top ten shareholders of Gli electric. If she completes the top subscription, she will hold 74488500 shares, and move to No. 8 on the list of shareholders.