On November 29, Silan Micro disclosed the stock option incentive plan (draft), the total number of stock options to be granted to the incentive objects is 21.5 million, and the corresponding number of shares is 21.5 million shares, accounting for approximately the total share capital of the company when the incentive plan was signed. of 1.52%. Among them, 20.27 million shares were granted for the first time, and a total of 2,467 incentive objects were granted for the first time. All the incentive objects were the company's middle and senior managers and core technology (business) backbones, and the exercise price was 51.27 yuan per share.

The announcement shows that the incentive objects of this incentive plan are the company's directors, senior managers, middle-level managers and core technology (business) backbones and other personnel that the board of directors deems to be incentivized, excluding independent directors and supervisors, nor individually or in aggregate. Shareholders or actual controllers holding more than 5% of the company's shares and their spouses, parents and children.

Silanwei pointed out that the incentive objects of the granted stock options are the management and core technology (business) backbones who have an important impact on the company's future business performance and development, and are the core strength of the company's operation and development. The company's implementation of equity incentives for these personnel not only fully considers the representativeness and demonstration effect of the incentive objects in the company, but also helps to establish a benefit sharing and restraint mechanism between shareholders and the above-mentioned personnel, and enhances employees' contribution to the realization of the company's sustainable and stable. , The sense of responsibility and mission of healthy development, effectively improve the cohesion and creativity of employees, and is conducive to the realization of the company's development strategy and business plan.

It is reported that Silan Micro is one of the largest integrated circuit chip design and manufacturing (IDM) enterprises in China, and its technical level, business scale, profitability and other indicators are among the best among domestic counterparts.

Silan Micro's technology and products cover many fields of consumer products, and maintain a leading position in many technical fields, such as green power chip technology, 32-bit MCU chip technology, digital audio and video chip technology, MEMS sensor technology, High-voltage intelligent power module technology, automotive-grade power module and power device technology, Mini-LED chip technology, high-end LED color screen pixel tube technology, third-generation power semiconductor device technology, etc. At the same time, the company provides customers with targeted chip product series and systematic application solutions by using the technology accumulation in multiple chip design fields. After more than 20 years of development, the company has cultivated and established a high-quality international R&D design and production management team. With the country's encouragement and support for these strategic emerging industries, the company, as one of the important semiconductor manufacturers in China, has become more and more important in the industry, and the competition for talents will become more and more fierce.

In view of the above, in the incentive plan, the pricing of stock options is aimed at promoting the development of the company, safeguarding the interests of shareholders, and stabilizing the core team. By giving incentive objects a certain discount on the exercise price of stock options, the incentive objects can be fully mobilized, and the interests of shareholders, the company and the incentive objects can be effectively combined, which can stabilize the core management team, ensure the competitiveness of employees' compensation, and improve the company's competitiveness. development has a positive effect.

At the same time, the exercise assessment year of the stock options granted by Silan Micro’s incentive plan this time is the four fiscal years from 2021 to 2024, and the assessment is conducted once in each fiscal year.

Among them, the first exercise period is based on the operating income in 2020, and the cumulative operating income growth rate in 2021 is not less than 62%; the second exercise period is based on the operating income in 2020, from 2021 to 2022. The cumulative operating income growth rate shall not be lower than 273%; in the third exercise period, based on the operating income in 2020, the cumulative operating income growth rate from 2021 to 2023 shall not be lower than 508%; in the fourth exercise period, the The operating income in 2020 is the base, and the cumulative operating income growth rate from 2021 to 2024 is not less than 767%.

If some of the reserved stock options are granted in 2022, the annual performance assessment targets for the granted stock options are: in the first exercise period, based on the operating income in 2020, the cumulative operating income growth rate from 2021 to 2022 is not low. In the second exercise period, based on the operating income in 2020, the cumulative operating income growth rate from 2021 to 2023 will not be lower than 508%; in the third exercise period, based on the operating income in 2020, From 2021 to 2024, the cumulative operating income growth rate will not be lower than 767%.

During each exercise period, if the company fails to meet the corresponding performance assessment targets, all the stock options that have been granted but not yet exercised by the incentive objects in the corresponding assessment year shall not be exercised and shall be cancelled by the company.

Silan Micro stated that if all the 21.50 million stock options granted by this incentive plan are exercised, the company will issue 21.50 million company shares to the incentive objects, and the amount of funds raised will be 1,102.305 million yuan. The company plans to use all of this part of the funds for Supplement company liquidity.

Disclaimer: This article is reproduced from "Semiconductor Localization". This article only represents the author's personal opinion, not the opinion of Sacco Micro and the industry. It is only for reprinting and sharing, and supports the protection of intellectual property rights. Please indicate the original source and author for reprinting, if any Infringement please contact us to delete.