The boss is so rich that the employees have to drink soup
On Friday night, muyuan shares put out more than ten announcements at one go, the most attractive one being the 2019 restricted stock incentive plan draft. You know, the stock price of muyuan stock has risen from 28 yuan to 100 yuan this year. Does the company want to buy a set for its employees?
In fact, it is not. According to the plan, the source of this stock incentive is the companys directional issuance of A-share common shares to the incentive objects, with the number of incentive shares of 53388100 and the granting price of 48.03 yuan / share.
This is also a high part of the selection of two sets of pricing standards. The first pricing standard is 50% of the average price of 96.05 yuan per share on the trading day before the announcement of the incentive plan, i.e. 48.03 yuan. The second pricing standard is 50% of the average price of 92.20 yuan per share in the 20 trading days before the announcement of this incentive plan, which is 46.10 yuan per share.
Muyuan shares chose the former.
Even so, the potential floating profit income is quite considerable. According to the closing price of 93.02 yuan on November 8, the total value of the above 53388100 shares is 4.966.2 billion yuan, while the total cost of stock incentive subscription is only 2.564.2 billion yuan, and the difference is 2.402 billion yuan.
The coverage of this incentive cannot be said to be wide. The total number of incentive objects is 915, which is equivalent to the potential floating profit per capita of 2.62 million yuan.
However, specifically, Cao Zhinian, the vice chairman and executive deputy general manager, was granted 1.98 million shares of restricted stock, while Qin Jun, the deputy general manager and the Secretary of the board of directors, and Wang Huatong, the deputy general manager, each received 0.98 million shares.
The remaining 912 core management and technical personnel divided 38.7705 million shares, with 10.6776 million shares reserved.
Although nearly 1000 people can benefit from it, in the whole listed company, there are only a few employees who can be qualified for share allotment, equivalent to only one out of 30 people is qualified.
Data shows that by the end of 2018, including the parent company and subsidiaries, the total number of employees of muyuan Co., Ltd. reached 29978.
However, if the employees who have obtained the qualification of stock incentive want to cash out, they must help the listed companies to complete the corresponding performance assessment objectives.
If it is required for the first lifting of the sales restriction period, based on the sales volume of pigs in 2019, the growth rate of the sales volume of pigs in 2020 will not be less than 70%, and the sales index of the second lifting of the sales restriction period will be raised to not less than 150%.
According to the comprehensive historical announcement, the pig sales volume of muyuan stock in the first 10 months of 2019 is 8.675 million, and it is expected to be 10-11 million throughout the year.
That is to say, in 2020 and 2021, the pig sales of listed companies need to reach 17 million and 25 million, and the employees of this stock incentive can lift the ban on cash out.
Although time cost, capital cost and secondary market fluctuation risk cannot be ignored, the good thing is that there is the potential floating profit of RMB 2.402 billion as the safety cushion.
With this agreement, at least it will be good news for next years pig supply and rational return of pork price.
Source: responsible editor of 21st century economic report: Wang Xiaowu NF