Subsidiary Proposes Employee Stock Ownership Plan for Company Personnel
What happened
Foxconn Industrial Internet Co., Ltd., a subsidiary, proposed an Employee Stock Ownership Plan (ESOP) for the Company's Directors, Senior Management, middle-level management, and core employees. The plan, which has a term of 84 months, aims to raise up to RMB 2,000.00 million.
From investegate.co.uk
Why it matters
The ESOP resolution requires approval from the board of directors. Vesting of shares under the plan is contingent upon the Company achieving specific performance targets and the employee receiving a Grade B or higher performance appraisal.
From investegate.co.uk
Who's involved
- companyThe parent company whose directors and employees are eligible for the ESOP
- board of directorsThe group responsible for approving the ESOP resolution
Keep exploring
The entities involved
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board of directors
group of people who jointly supervise the activities of an organization
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company
legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective
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