In the fiercely competitive business world, talent is undoubtedly the core driving force for corporate development. On May 7, SMOORE (HKEX: 6969) issued two major announcements, launching two equity incentive plans, allowing 49 employees to share in this equity incentive "feast", which attracted widespread attention in the industry.
SMOORE's equity incentive plan is mainly divided into two parts: share incentive plan and stock option plan.
First, let's look at the share incentive plan. The company granted a total of 1,614,000 incentive shares to 36 eligible participants (all employees of the group) at a price of HK$0, while the closing price per share on the day of the grant was HK$13.52. The vesting period of these incentive shares is set between May 7, 2026 and May 7, 2029.
Let's talk about the share option plan. A total of 2,390,000 share options were granted to 13 eligible participants of the Group, with an exercise price of HK$13.52 per share, which is the same as the closing price on the grant date. The validity period of the share options is 10 years from the grant date and expires on May 6, 2035. The vesting period of the share options is from May 7, 2026 to May 7, 2029, and the specific exercise period of different batches of share options varies, and the latest can be May 6, 2035.
Both plans have distinct characteristics, with a performance mechanism and a deduction mechanism. On the one hand, the number of grants is closely linked to the employee's position, term of office and performance evaluation results. Through systematic assessments and comprehensive evaluation of employee contributions, employees with outstanding performance and great contributions will naturally receive more bonus shares or stock options, which fully mobilizes the enthusiasm of employees. On the other hand, the deduction mechanism is also very strict. If an employee leaves before the vesting period, the unvested shares or stock options will automatically become invalid, which greatly strengthens the binding relationship between employees and the company, giving employees a greater sense of belonging and stability.
Moreover, after the grant of the above-mentioned bonus shares, there are still 307,546,059 shares available for future grant according to the incentive plan; after the grant of the above-mentioned stock options, according to the plan authorization limit of the stock option plan, a total of 554,727,627 shares are available for future grant.
It is worth mentioning that the incentive targets are all ordinary employees of the group, not the company's directors, top executives or major shareholders and their contacts. This fully reflects Smoore International's emphasis on grassroots and middle-level employees, allowing every employee who works hard for the company to have the opportunity to share the results of the company's development.
Source: SMOORE
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