Summary by Moomoo AI
BYD Company Limited announced its 2024 employee stock ownership plan (draft), which aims to establish and improve a mechanism for sharing benefits between the company and employees, attract and retain talents, and promote the company's long-term development. The plan targets middle management personnel and core employees of the group, with a maximum participation of up to 150 individuals. The total number of shares under the employee stock ownership plan does not exceed 0.22 billion, with a subscription price of 1 RMB per share and a total fund involvement not exceeding 0.22 billion RMB. The source of the stocks will be purchased through the secondary market, and the total number of shares held by the employee stock ownership plan will not exceed 10% of the company's total share capital. The plan has a duration of 72 months and the stocks will be unlocked in five phases. The plan is subject to approval by the shareholders' meeting before implementation, and has already been approved by the company's board of directors on October 18, 2024.
