China Railway Group: Proposed to implement an incentive plan of no more than 200 million restricted shares at a grant price of 3.55 yuan per share
China Net Real Estate News On November 22, China Railway Group issued an announcement to announce the restricted stock incentive plan (draft) for 2021.
The number of restricted stocks to be granted under this plan does not exceed 200 million shares, accounting for 0.98% of the company’s total A share capital of 20.363 billion shares at the time of the announcement of the draft plan; the grant price of restricted stocks is 3.55 yuan per share. The source of the underlying stocks involved in this plan is the company’s directional issuance of the company’s A-share ordinary shares to incentive targets.
Among them, 180 million shares were granted for the first time, accounting for 90% of the total granted under the plan, and 0.88% of the company’s total A share capital at the time of the announcement of the draft plan; 20 million shares were reserved, accounting for 10% of the total granted under the plan, accounting for capital 0.10% of the company’s total A share capital at the time of the announcement of the draft plan.
In addition, the total number of incentive objects granted by this plan for the first time does not exceed 732. The specific scope of incentive objects includes the company’s senior management personnel; the company’s middle-level management personnel; the company’s core backbone personnel.
The validity period of this plan is from the date of completion of the registration of the first grant of restricted stocks to the date when all restricted stocks granted to incentive objects are lifted or repurchased and cancelled, and the longest period shall not exceed 72 months.
In addition, the purpose of reserving part of the equity is the company’s subsequent introduction of the incentive needs of core personnel. The reserved part shall be granted by the company’s board of directors within 12 months after the plan is approved by the general meeting of shareholders. If the incentive object is not specified for more than 12 months, the reserved rights shall become invalid.