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Erie Shares Of The Stock Option Incentive Plan Law

Posted on:2009-12-07Degree:MasterType:Thesis
Country:ChinaCandidate:H Q HanFull Text:PDF
GTID:2206360248951158Subject:Law
Abstract/Summary:PDF Full Text Request
In recent years, China's listed companies arose in the practice of a large number of companies operating on the equity incentive phenomenon. By the empirical analysis of yili company's stock option incentive plan, the system in the implementation of the specific issues to do special studies, hoping to give some improving recommendations. In this paper, in addition to the introduction and closing remarks, in five parts start.The first part, the stock option incentive plan objectives. Yili company's stock option incentive plan is in line with the laws, and the provision is reasonable. The implementation of the plan can be effective in reducing the company commissioned an agency costs, promote stability and yili company continuously attracting outstanding talent, Pan Gang, president of the company, such as the value of the property rights of executives.The second part , the number and distribution of options. The stock option incentive plan is the first time of yili company, can not fully take into account the equity scale, long-term development plans and other factors, the number of options granted is unreasonable, nor does it meet the "Measures for state-owned companies". However the plan distribution options consistent with China's relevant regulations, are consistent with the theory of incentives is reasonable.The third part, the stock sources. Yili company using object orientation to encourage the issuance of new shares to resolve the underlying security sources, in line with China's "management of listed companies" and the "Measures for state-owned companies " requirements. However, yili company object orientation issued shares incentive practices up to 33 do not conform with our "management of listed companies to issue securities". China's "Company Law" repurchase its own shares on a "principle prohibiting special exceptions" attitude. The existing statutory capital system, excluding the common stock source approach. Major shareholders can not transfer as a way of listed companies in China's stock option incentive scheme sources.The fourth part, the stock options to the right. Although yili company's stock option plan trip conditions are right in line with China's relevant provisions of the request, but too low to the right conditions actually against the interests of the investors. The plan of arrangement will not uniform batches to the right, in violation of the "Measures for state-owned companies", the relevant provisions of the incentive cann't play a long-term incentive targets.The fifth part, some legal thinking to improve incentive stock options. China should produce a special law as soon as possible to improve the incentive stock options; should further standardize China's securities market; should try to formulate a relatively perfect incentive stock option plan; should vigorously strengthen the integrity of the system building under the rule of law.
Keywords/Search Tags:Stock options, The number and distribution of options, Stock sources, Right conditions, Right arrangement
PDF Full Text Request
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