Summary by Moomoo AI
BYD Company Limited announced a new employee stock ownership plan on November 5, 2024, aiming to further improve the company's governance structure, enhance corporate governance, and attract and retain outstanding talents. The plan will involve no more than 150 middle management personnel and core employees of BYD Group, specifying the source of funds, share sources, and share scale. The total number of shares in the employee stock ownership plan shall not exceed 220 million shares, and the total funds shall not exceed 220 million yuan. The shares will be purchased through the secondary market, with a duration of 72 months and a phased unlocking mechanism. The plan will be managed by the company itself, with the establishment of a management committee to oversee daily operations and exercise shareholder rights. In addition, the plan has been approved by the shareholders' meeting and will be implemented in accordance with relevant financial systems, accounting standards, and tax regulations.
