Gree Super employee Stock ownership Plan is here! Not only can they share houses, but they can also buy their own company shares at half price. I'm afraid the "happiness" of Gree Electric Appliance employees has improved a lot. Of course, these are not all taken for nothing.
On the evening of June 20, Gree Electric Appliances announced the first phase of the employee stock ownership plan, in which the total number of employees to participate in the employee stock ownership plan does not exceed 12000, and the capital scale of the employee stock ownership plan does not exceed 3 billion yuan, accounting for 1.8% of the company's total share capital. the purchase price is 27.68 yuan per share, while as of last Friday, Gree's latest share price was 53.68 yuan per share, that is, the repurchased shares were only 50% of the average price.
In addition, Dong Mingzhu in this employee stock ownership plan, the maximum number of shares to be subscribed for is 30 million shares, and the maximum amount of capital contribution is about 830 million yuan, accounting for 27.68% of the employee stock ownership plan. If Dong Mingzhu subscribes to the above employee stock ownership plan, the surplus may exceed 800 million yuan.
However, although employees can subscribe for Gree shares at half price, the "benefit" is subject to conditions, and the employee stock ownership plan has a two-year performance review period.
According to the assessment results during the vesting period, the employee stock ownership plan will ascribe the corresponding rights and interests to each holder of the employee stock ownership plan in two phases, with a maximum attributable proportion of 50% for each period. The evaluation index of employee stock ownership plan is divided into company performance evaluation index and individual performance evaluation index.
In addition, the capital scale of this Gree employee stock ownership plan is no more than 3 billion yuan, and the stock of this stock ownership plan is derived from the shares that have been bought back in the company's special buyback account, with a stock size of no more than 108 million shares, accounting for 1.8% of the company's current total share capital. The total number of shares held by all effective employee stock ownership plans of the company shall not exceed 10% of the total share capital of the company, and the total number of shares corresponding to the share rights and interests of individual employees shall not exceed 1% of the total share capital of the company.
As early as May 26 this year, Gree Electric Appliances announced that it planned to buy back 7.5 billion-15 billion yuan of shares, which mentioned that the repurchased shares would be used to implement the company's equity incentive or employee stock ownership plan.
The last large-scale equity incentive for Gree Electric Appliances was in 2009, when Gree Group, a major shareholder at that time, transferred 16.0425 million shares of Gree Electric Appliances. Equity incentives were provided to six senior Gree executives and 1053 Gree middle-level cadres, business backbones and executives of holding subsidiaries. The employee stock ownership is the first time that Gree Electric Appliance has issued an employee stock ownership plan since Hillhouse took over.
