Memory inheritor

Chapter 142 Clash

Regarding the equity incentive plan, Dai Songquan had consulted some shareholders last year, and then all shareholders knew about it.

At the shareholders' meeting at the beginning of the year, Dai Songquan presented a draft for discussion. Although the opposition was not very strong at the time, it failed to pass the vote.

Six months later, everyone is curious to see what new tricks Dai Songquan has come up with. Is he really so sure that everyone will support him?

As Qian Jiayu began his presentation, the shareholders started to get a little uneasy.

In the draft at the beginning of the year, the equity incentive targets were the core senior management team other than the shareholders, namely, the seven senior executives other than Dai Songquan himself and Xia Yuansheng, namely Vice President Ji Yongsheng and the general managers of the six centers.

However, in this version of the plan, the incentive recipients include core executives, outstanding department directors, top talents in the industry, and those who have made special contributions to technological innovation and company development.

According to this plan, there are approximately 35-40 qualified individuals, and this number may increase further as the company grows.

This idea isn't unusual, as many high-tech companies do it this way. However, even if shareholders release the shares they hold on behalf of others, a 3% option pool seems insufficient to benefit so many people.

Based on the data from Lin Fangzhe's first-half business report, the annual revenue is approximately 900 billion, and the net profit is about 120 billion. If half of that, 60 billion, is distributed as dividends, then 3% would be 1.8 million, which would be less than 500 million per person if distributed equally.

Of course, the actual distribution will vary from person to person, but according to Dai Songquan's business philosophy, it is good to increase investment in research and development and be able to distribute 30-40% of the profits as dividends.

A few million in dividends per person a year may seem like a lot, but it depends on the actual situation. If this got out, Zhiwei's competitors would laugh themselves to death. They'd think that little bit of money was better left undistributed, and the core team would probably be poached by others before long.

Of course, if this money were distributed to their shareholders, they wouldn't complain about the amount, which is the current situation at Zhiwei.

Qian Jiayu then introduced the granting method and assessment conditions of stock options, exit and repurchase mechanisms, decision-making procedures and shareholder cooperation obligations.

Shareholders also had some questions about these matters, but as long as their shareholding ratio remained unchanged, none of these mattered, because Dai Songquan was determined not to go public.

What puzzled them was the size and source of the options grant.

This is usually the first thing introduced, but Qian Jiayu put it last: the shares used for stock option incentives will be no less than 15% of the total shares. As for how these shares were obtained, he didn't mention it at all.

One shareholder asked, "Mr. Dai, I don't understand, are you personally contributing these shares?"

Dai Songquan smiled and said, "If we can, why not?"

Another shareholder said, "How are we supposed to vote if this issue isn't clarified?"

Dai Songquan nodded slightly: "That makes sense."

Qian Jiayu smiled and thanked everyone on stage before stepping down and taking his seat.

The shareholders looked at each other, confused as to what Dai Songquan was planning.

Of course, only the major shareholder, Dai Songquan, could afford to offer a 15% stake. If he were to share his shares with the executives, they would have little to say.

But what if Dai Songquan was plotting against someone else? Once this thought crossed their minds, some people couldn't help but become suspicious.

Ignoring the shareholders' reactions, Dai Songquan moved on to the next agenda item: a proposal regarding the disposal of some of the company's non-core assets and production lines.

Gu Shiming was to report on this topic, but the shareholders seemed distracted, as if they were still thinking about the previous topic. They only asked a few questions and then moved on.

According to the meeting agenda, the next step is the itemized voting process.

The shareholders have already decided how to express their opinions on each issue. While Dai Songquan can force some things to pass, the asset disposal issue is not so easy to get approved.

As for the equity incentive plan that Dai Songquan is so keen to promote, that's definitely out of the question this time. But before that, it's necessary to clarify any unclear points in the plan.

Despite the bloating pain in his bladder, Tai Liqun scribbled a few hasty notes on a piece of paper with a broken pencil, trying to come up with a draft.

Dai Songquan spoke into the microphone: "Ladies and gentlemen, are there any further proposals?"

A shareholder surnamed Tao said, "Mr. Dai, I would like to ask the board of directors to provide a clear plan for the company's listing timetable."

Dai Songquan smiled and nodded at him, then asked, "Anything else?"

Seeing that no one spoke, he said, "Alright, that concludes today's meeting."

President Hu spoke up to remind him, "President Dai, the itemized voting hasn't started yet!"

Dai Songquan said, "I have seen everyone's attitude. Most of you have opinions on several proposals at this meeting. Although I can and should approve some of them, it is unnecessary. As for those you disagree with, let's put them aside for now."

He glanced at the shareholder surnamed Tao as he spoke: "As for the listing issue, my opinion is very clear, and I don't think there's any need to discuss it further."

"So I think that now that things are clear, there's no need to waste everyone's time. After all, Mr. Tai and Mr. Tao, you're both very busy. Meeting adjourned!"

After speaking, Dai Songquan stood up, nodded slightly to everyone, and then walked out, ignoring the reactions of others.

The senior executives of Zhiwei immediately stood up and followed Dai Songquan out of the conference room.

Tai Liqun tilted his head and watched Dai Songquan, a group of senior executives, and that damned young man walk past him. He grabbed the note with the prompt written on it and crumpled it into a ball.

The shareholders in the conference room exchanged bewildered glances. They had known Dai Songquan for quite some time, especially the former senior executives, who not only knew him for a long time but were also very familiar with each other.

No one would consider Dai Songquan a pushover, nor would anyone dare to think so. Otherwise, those former executives wouldn't be here merely as shareholders, pointing fingers and giving orders.

However, in their minds, Dai Songquan was a very shrewd person. Today's scene was almost a complete breakdown of relations. He was no longer planning to play games with them and slowly wear them down.

Tai Liqun sat there angrily for a while, then suddenly got up and walked outside.

Upon seeing this, the shareholder surnamed Tao quickly left the meeting room and caught up with Tai Liqun, calling out, "President Tai!"

Tai Liqun glanced back, but didn't stop walking: "We'll talk about it later."

The shareholder surnamed Tao followed, saying, "Then let's go out now."

"Wait until I'm done using the restroom!" Tai Liqun said irritably, striding towards the bathroom.