Chapter 142: Clash (3) |
Regarding the Equity Incentive Plan, Director Dai had consulted some shareholders about their opinions last year, and subsequently, all shareholders became aware of the matter.
At the shareholders' meeting earlier this year, Director Dai presented an initial draft for discussion. While the opposition wasn't particularly fierce at the time, the plan failed to pass during the vote.
Six months later, everyone was somewhat curious, wanting to see what new tricks Director Dai had come up with. Did he truly believe everyone would support him this time?
As Qian Jiayu's presentation unfolded, the shareholders began to grow restless.
In the draft from early this year, the equity incentive targets were the core senior executives outside the shareholders themselves—meaning, aside from Director Dai himself and Xia Yuansheng, the remaining seven executives: Vice President Ji Yongsheng and the six center general managers.
But in this version of the plan, the incentive targets included core senior executives, outstanding Department Directors, top-tier industry talent, and individuals with special contributions to technological innovation and company development.
According to this plan, approximately 35-40 people would qualify, and as the company grew, that number could potentially increase further.
This concept wasn't particularly novel—after all, many high-tech companies did the same. But to benefit this many people, even if the shareholders contributed their escrowed shares, a 3% option pool seemed somewhat insufficient.
Using Lin Fangzhe's first-half business briefing data as a reference, the annual revenue was approximately 90 billion, with net profit around 12 billion. If half—6 billion—were distributed as dividends, 3% would be 180 million. Split evenly, that would be less than 5 million per person.
A few million in annual dividends per person might seem like a lot, but it depended on the actual circumstances. If word got out, Zhiwei's competitors would absolutely laugh themselves silly. Such a paltry sum was worse than nothing—it wouldn't be long before the core team got poached away.
Of course, if that money went to the shareholders themselves, they certainly wouldn't complain. That was precisely Zhiwei's current reality.
Qian Jiayu then went on to introduce the option granting methods and assessment conditions, exit and buyback mechanisms, decision-making procedures, and shareholders' cooperation obligations.
The shareholders had some questions about these details as well, but as long as their shareholding ratios remained unchanged, none of it really mattered—because Director Dai was dead set against going public.
What puzzled them, however, was the scale and source of the option grants.
This was usually the first item introduced, but Qian Jiayu had saved it for the very end: the shares used for option incentives would be no less than 15% of the total shares. As for where these shares would come from, he didn't mention it at all.
One shareholder asked, "Director Dai, I don't understand. Are you providing these shares from your personal holdings?"
Director Dai smiled. "If it's possible, why not?"
Another shareholder said, "If this issue isn't clarified, how are we supposed to vote on it?"
Director Dai gave a slight nod. "That's a fair point."
Qian Jiayu smiled and thanked everyone from the podium before stepping down to take his seat.
The shareholders exchanged bewildered glances, momentarily unable to figure out what Director Dai was planning.
A full 15% of shares—of course, only the major shareholder, Director Dai himself, could afford that. If he was genuinely willing to share his own shares with the executives, they really had nothing to say.
But what if Director Dai had someone else's shares in mind? The moment this thought arose, some couldn't help but become suspicious and paranoid.
Director Dai ignored the shareholders' reactions and proceeded to the next agenda item: the proposal to dispose of some of the company's non-core assets and production lines.
Gu Shiming was tasked with reporting on this matter, but the shareholders listened absentmindedly, still seemingly preoccupied with the previous topic. They hastily raised a few questions and let it go.
Per the meeting agenda, the next step was the itemized voting session.
The shareholders had already decided how they would vote on each issue. Although Director Dai could force through certain items, the asset disposal wouldn't be so easy.
As for the Equity Incentive Plan that Director Dai was so determined to push, there was no way it would pass this time. But before that, they needed to clarify the ambiguous parts of the plan.
Tai Liqun endured the discomfort in his bladder, scribbled a few hasty prompt words on a notepad with his broken pencil, and mentally prepared his speech.
Director Dai spoke into the microphone, "Ladies and gentlemen, are there any additional proposals?"
A shareholder surnamed Tao said, "Director Dai, I'd like to request that the Board of Directors provide a clear timeline for the company's IPO."
Director Dai smiled and nodded at him, then asked, "Anything else?"
Seeing no one speak, he said, "Very well. This meeting is adjourned."
President Hu chimed in to remind him, "Director Dai, we haven't held the itemized vote yet!"
Director Dai said, "I've already seen everyone's stance. Most of you have opinions on the several proposals from this meeting. Although there are some items I could force through—and should force through—there's no need. If you disagree, let's just shelve them for now."
He glanced at the shareholder surnamed Tao as he spoke, "As for the IPO issue, my stance is clear. I think there's no need for further discussion.
"So I believe, since everything is already settled, there's no point wasting everyone's time. After all, Director Tai, Director Tao—you're all very busy people. Meeting adjourned!"
Director Dai finished speaking, stood up, nodded slightly to everyone, and walked out, ignoring everyone else's reactions.
Zhiwei's senior executives immediately rose and followed Director Dai out of the conference room.
Tai Liqun tilted his head, watching Director Dai, the executives, and that damn young man walk past him from behind. He grabbed the notepad with his prompt words and crumpled it into a ball.
The shareholders in the conference room exchanged bewildered glances. They had known Director Dai for quite some time—especially the former executives, who not only knew him well but were also very familiar with him.
No one ever regarded Director Dai as a pushover, and no one dared to think that way. Otherwise, those former executives wouldn't be sitting here as shareholders, merely pointing fingers.
But in their minds, Director Dai was a deeply calculating man. What happened today bordered on a complete fallout—was he no longer willing to play games and slowly wear them down?
Tai Liqun sat fuming for a long while before suddenly standing up and walking out.
The shareholder surnamed Tao quickly followed him out of the conference room and called out, "Director Tai!"
Tai Liqun glanced back but didn't slow his pace. "Talk later."
The shareholder surnamed Tao caught up. "Then let's head out together."
"Let me use the restroom first!" Tai Liqun snapped, striding purposefully toward the men's room.
