The Equity Incentive Of Gem Is Upside Down &Nbsp, And The Right To Escape Is Beginning To Show.

　　 Gem The equity incentive is now "riding the tiger". According to statistics, as of May 3rd, there were 15 companies in the gem. shares The option exercise price is higher than the market price, accounting for more than 70%. Prior to this, Zhong Neng electric and Shuang Lin shares have been abolished. stock right Incentive plan.

Another notable concern is that in May 6th, the Ding Han Technology Board approved the motion for staff adjustment in the first phase of the equity incentive plan. Among them, Li Ming, one of the motivating targets, left office in May 4th because of personal reasons. Zhao Guofeng, Yuan Shiqiang, Zhou Ruifeng, Xia Dong, Lin Nan and Li Hui, who were originally the motivating targets, voluntarily give up the subscription of restricted stock for personal reasons for 6 reasons.

Previously, there were not a few companies that amended the incentive target, but the reasons were related to the resignation of the parties concerned. For example, the first phase of the event was 18 fewer than the revised draft.

Looking back at the stock incentive plan of Ding Han technology, the company originally granted 56 incentive subjects to 3 million 30 thousand restricted stocks. The award date is April 18th this year, and the award price is 19.15 yuan / share. Although the price of Ding Han technology has dropped continuously since then, as of yesterday, if the incentive target is involved in the subscription, there will still be about 30% of the float space. Against this background, Zhao Guofeng and other 6 people give up the subscription of restricted stock in the state of service, which is somewhat puzzling.

From the common sense, if the profit margin is large enough, raising funds is obviously not the biggest problem. The reason may be that the 6 people do not recognize the existing valuation of their company, or doubt whether the future unlocking conditions can be reached. It also reflects an embarrassment, that is, with the further regression of gem valuation, the incentive function of equity incentive should be weakened.

The phenomenon of "hanging upside down" between gem price and market price continues to spread. Yesterday, Han Wei Electronics launched a draft equity incentive plan higher than the market price, but its share price fell by 3.4%, and the "upside down" rate was 4.7%.

According to the Han Wei electronic equity incentive plan, the company intends to award 3 million 100 thousand stock options to 91 incentive subjects, accounting for 2.63% of the total share capital, of which 2 million 810 thousand were awarded for the first time and 290 thousand were reserved. The plan is valid for no more than 5 years, with 3 trips and 30%, 30% and 40% respectively. The exercise price is set at 20.25 yuan.

Viewing the incentive plan, we can see that the main right of execution is based on the net profit in 2010. The net profit growth rate of the company in 2011 -2013 is no less than 20%, 40% and 60% respectively. In 2011 -2013, the weighted average return on net assets after deducting non recurring gains and losses is no less than 7%, 7.5% and 8% respectively. In the year of 2010, Han Wei Electronics made a profit of 42 million 324 thousand and 500 yuan, a slight increase of 5.42% over the same period last year, with a low base. In contrast, the above exercise conditions seem more relaxed.