股權(quán)激勵(lì)四步法：
Four step approach to equity incentives:
一股權(quán)激勵(lì)模式的三種類別
Three categories of equity incentive models
二股權(quán)激勵(lì)的五項(xiàng)前提
Five prerequisites for equity incentives
三股權(quán)激勵(lì)方案設(shè)計(jì)的九大要素
Nine Elements of Designing Three Equity Incentive Plans
四股權(quán)激勵(lì)落地的六個(gè)步驟
Six steps for implementing equity incentives
今天我們先來(lái)介紹股權(quán)激勵(lì)模式的三種類別：
Today, we will first introduce the three categories of equity incentive models:
只分利潤(rùn)不分權(quán)（只分有期限的利潤(rùn)，不轉(zhuǎn)讓股權(quán)所有權(quán)）
Divide profits without rights (only distribute profits with a term, without transferring equity ownership)
1虛擬股票（權(quán)）：
1. Virtual stock (rights):
①實(shí)現(xiàn)業(yè)績(jī)目標(biāo)，享受分紅權(quán)增值收益權(quán)，但沒有所有權(quán)和表決權(quán)。
① Achieve performance goals and enjoy the right to increase profits through dividends, but without ownership or voting rights.
②短期激勵(lì)效果較好，長(zhǎng)期效果不明顯。
② The short-term incentive effect is good, but the long-term effect is not significant.
③公司內(nèi)部派發(fā)一定數(shù)量的虛擬股權(quán)給公司骨干員工，不需要員工出資。
③ Distribute a certain amount of virtual equity within the company to key employees without the need for employee contributions.
④實(shí)質(zhì)上是一種享有企業(yè)分紅權(quán)的憑證。
④ Essentially, it is a proof of entitlement to corporate dividends.
⑤導(dǎo)致激勵(lì)對(duì)象可能過(guò)分重視分紅，減少企業(yè)資本積累，容易形成分凈利潤(rùn)思想，導(dǎo)致公司現(xiàn)金支付壓力較大。
⑤ This may lead to incentive targets placing excessive emphasis on dividends, reducing the accumulation of corporate capital, and easily forming the idea of net profit distribution, resulting in significant cash payment pressure for the company.
2股票（權(quán)）增值權(quán)：
2. Stock appreciation rights:
①授予激勵(lì)對(duì)象在一定時(shí)期和條件下，獲得規(guī)定數(shù)量的股票價(jià)格上升所帶來(lái)的收益的權(quán)利。
① Grant incentive recipients the right to receive the benefits of a specified number of stock price increases over a certain period of time and under certain conditions.
②股權(quán)激勵(lì)對(duì)象并不實(shí)際擁有股票不擁有表決權(quán)分紅權(quán)。
② The equity incentive objects do not actually own stocks and do not have voting and dividend rights.
③激勵(lì)對(duì)象不用實(shí)際出資，行權(quán)后將獲得增值權(quán)益現(xiàn)金
③ The incentive object does not need to make actual capital contributions, and will receive value-added equity cash after exercise
3賬面價(jià)值增值權(quán)：
3. Book value appreciation right:
①用每股凈資產(chǎn)的增加值來(lái)激勵(lì)，享受約定比例的分紅，但沒有所有權(quán)和表決權(quán)。
① Use the added value of net assets per share as an incentive to enjoy the agreed proportion of dividends, but without ownership or voting rights.
②分為購(gòu)買型和虛擬型。
② It is divided into purchasing type and virtual type.
③由于賬面價(jià)值增值權(quán)沒有利用資本市場(chǎng)的放大作用，每股凈資產(chǎn)的增加幅度有限，所以激勵(lì)對(duì)象的收益不會(huì)有爆發(fā)性增長(zhǎng)，因此是適用于現(xiàn)金流比較充裕且凈資產(chǎn)增值較快的企業(yè)。
③ Due to the fact that the book value appreciation right does not utilize the amplification effect of the capital market, the increase in net assets per share is limited, so the earnings of the incentive object will not experience explosive growth. Therefore, it is suitable for enterprises with abundant cash flow and rapid net asset appreciation.
4延期支付
4 Delayed Payment
員工持股計(jì)劃ESOP：
Employee Stock Ownership Plan (ESOP):
①公司內(nèi)部員工出資認(rèn)購(gòu)本公司的部分股權(quán)，通過(guò)持股平臺(tái)（有限合伙企業(yè)）管理運(yùn)作。
① Internal employees of the company contribute to subscribe for a portion of the company's equity, which is managed and operated through a shareholding platform (limited partnership enterprise).
②與業(yè)績(jī)掛鉤不明顯，福利性較強(qiáng)。
② Not significantly linked to performance, with strong welfare benefits.
先分利潤(rùn)再分權(quán)（先分有期限的利潤(rùn)，后考慮股權(quán)所有權(quán)）
Divide profits first and then rights (divide profits with a fixed period first, then consider equity ownership)
1股票（權(quán)）期權(quán)
1 stock option
①是國(guó)際上一種經(jīng)典使用廣泛的股權(quán)激勵(lì)模式。
① It is the most classic and widely used equity incentive model internationally.
②期權(quán)實(shí)質(zhì)上是將權(quán)利和義務(wù)分開進(jìn)行定價(jià)，使得權(quán)利受讓人在規(guī)定期限內(nèi)有權(quán)行權(quán)或放棄行權(quán)，但公司作為義務(wù)方必須兌現(xiàn)承諾。
② Options essentially price rights and obligations separately, allowing the transferee of the right to exercise or waive the exercise within a specified period of time, but the company, as the obligor, must fulfill its commitment.
③激勵(lì)標(biāo)的物是企業(yè)的股權(quán)，激勵(lì)對(duì)象在行權(quán)后可以獲得完整的股東權(quán)益，成為在冊(cè)股東。
③ The subject matter of the incentive is the equity of the enterprise, and the incentive object can obtain complete shareholder equity after exercise, becoming a registered shareholder.
2期股
2 issues of shares
①激勵(lì)對(duì)象通過(guò)首付+分期還款的方式擁有公司股權(quán)
① The incentive object owns the company's equity through a down payment and installment repayment method
3限制性股票（權(quán)）
3 Restricted Stocks (Rights)
公司將一定的股份無(wú)償或者以優(yōu)惠價(jià)格授予激勵(lì)對(duì)象，但同時(shí)進(jìn)行一些限制。
The company grants a certain amount of shares to incentive targets free of charge or at a discounted price, but at the same time imposes some restrictions.
既分利潤(rùn)又分權(quán)（既分公司的利潤(rùn)，又給股權(quán)所有權(quán)）
Divide profits and rights (both dividing the company's profits and giving equity ownership)
This article is designed by Jinan Equity Partnership and provided to you. Our website is: http://zhenzhush.com We will provide you with wholehearted enthusiasm and welcome your visit!
咨詢電話：
