Authorized By The Legal Issues In The Restricted Stock Incentive Research

In August 13,2016,the Commission formally implemented "measures for the administration of equity incentive of listed companies"(No.126th),based on the restricted stock incentive as the background,analyzes the legal issues of authorization in the restricted stock incentive.Listed companies to carry out the restricted stock incentive is given in accordance with the agreed objectives of the object of a certain type of corporate equity.If the authorized object can be completed within the agreed time limit to complete the work of the target,it can be sold by the restricted stock granted to obtain the corresponding revenue.Reasonable and effective grants of restricted stock,not only can improve the internal management,improve the attraction of talent,enhance their stability,but also can increase the market value of enterprises so as to achieve a win-win situation of the company and shareholders.But the authorized link restricted stock in practice,due to many related restriction mechanism is not perfect,cause a lot of problems exposed,such as the authorized object to their own determine compensation phenomenon,the restricted stock incentive mode theory for personal gain for the managers of the company and the shareholders of the company means.The destruction of interests.Therefore,in order to avoid this phenomenon,a substantial effect of restricted stock incentive mechanism,to grant restricted stock,should strengthen the implementation of the main mechanism of authorization is the remuneration and appraisal committee own independent status and improve the system of selecting independent directors,to exclude the interference of grey directors.To standardize the procedures for the recruitment of independent financial advisers,and to strengthen the legal and reasonable proof of the license agreement and the authorized price.Clearly defined restrictions on the implementation of the draft stock authorized by the board of directors under the remuneration and assessment committee,but must be submitted to the board of supervisors to be considered,and finally submitted to the shareholders' meeting to be approved for implementation.Of course,in the aspect of legislation,we should also pay attention to the mutual coordination and follow up improvement between laws and regulations and various rules,for the restricted stock is authorized to reach a fair and reasonable to provide a good environment.