Group subsidiary, the parent company to be listed as an incentive options subject, the five-year "in the post" period is set based on the interests of individual behavior is set to damage the company bottom line, violators will be "confiscated" equity securities acquired high premium - to be listed in the current equity incentive involving upstart companies questioned, GEM, small plates such as lifting the executive turnover wave background, the Oaks Group launched the "class of gambling" incentive program and for the market provides a new reference samples.
The SFC has recently announced, glue gun issuance examination committee will be reviewed April 27 Samsung Electric Co., Ltd. Ningbo starting applications. According to the prospectus, Samsung's main business is electrical energy measurement and information acquisition products, distribution equipment, development, production and sales.
Prospectus disclosure, Zheng Jian, Jiang family of 5 people through direct and indirect electrical Samsung held a total of 66.24% of the shares, the former is well-known Zhejiang enterprises Oaks Group, glue stick the actual controller.
Samsung Electric prospectus biggest thing is its pre-IPO equity incentive program. According to the prospectus, March 2009, Oaks Group to develop "loyalty incentive plan Oaks Group" on the Oaks and the Samsung Group executives and other employees of electrical (hereinafter referred to as "incentive target") to implement the loyalty incentive program, which awarded incentive Oaks Group objects to pre-determined purchase price and conditions of a certain number of shares of Samsung Electrical rights, but also need to bear in the Oaks Group or Samsung Electric certain number of years of work obligations.
Specifically, the first object of the shares granted to encourage the maximum number of 1,000 shares, the source for the Oaks Group shares through investment in Ningbo High-Sheng Electric shares held by Samsung, Samsung Electric transfer of shares priced at the net per share by the end of December 2008 assets of 1.91 yuan.
Second, the Oaks Group requested incentive target commitments made Samsung Electric shares from the date of the Group and its subsidiaries in the Oaks service period of five years of work, and during his tenure, can not occur because of bribery, extortion, embezzlement , theft, leakage and other damage to business and technology interests of the company secrets, reputation, and other violations of law and cause significant losses, or because of personal crime were held criminally responsible, and to cause greater damage.
If the incentive object violates the above commitments, arrangements will be punished, that is not listed in the Samsung electric before motivate the object will have the Samsung Electric shares at 1.91 yuan per share price of sold back Oaks Group; the Samsung Electric listing, No resale equity incentive objects, but should be part of the shares held by the premium income received in cash within an agreed period the Group paid to the Oaks.
The incentive programs were A shares in the IPO market is currently relatively rare, but there are also to be considered between the two. First, gambling arrangements undermine the stability of equity? According to the prospectus disclosure, 29 September 2010, Oaks Group objects were signed with various incentives, "Agreement", agreed to three weeks before the electrical market, if the incentive target breach of promise, Oaks Group agreed to give up the buy-back, but Samsung Electric incentive shares held by the object should be obtained within an agreed period premium income in the form of cash to the Oaks Group. Based on this, the stability of the company shares have been disposed of.
Secondly, if the event of default, how to refine the implementation of "Electric will hold shares in Samsung's premium income obtained in the agreed period of time (15 days after confirmation of default) in cash paid to the Group"?
First, the "premium income" how to determine - is the equity interest held by the reduction of executives proceeds after the deduction of income between the acquisition cost, which is a result of holding options need to include dividend income received? Second, if the executives of default, and with no cash delivery group, whether the holdings of company shares must be paid before the income group? Third, if the default behavior of executives and the reduction of holdings of the relevant regulatory authorities limit the specification for the conflict, while the executive nor sufficient cash direct payment, how to deal with? Above, the current may not yet be clearly explained in the prospectus.