Cathay Biotech plans to launch an employee stock ownership plan in 2025
Cathay Biotech announced the draft of its 2025 employee stock ownership plan, with participants including directors, senior management, and middle management, with an initial number of holders not exceeding 155. The plan will hold no more than 1.3 million shares, accounting for 0.18% of the company's total share capital. To attract and retain talent, 150,000 shares are reserved as a reserve quota, with a purchase price of 25.53 yuan/share
According to the Zhitong Finance APP, Cathay Biotech (688065.SH) has disclosed the draft of its 2025 employee stock ownership plan, which includes participants such as the company's directors (excluding independent directors), senior management, middle management, and key technical (business) personnel. The total number of holders at the initial establishment of the employee stock ownership plan will not exceed 155 (excluding reserved shares), among which there are 6 directors and senior management, with the specific number of participants determined based on the actual contributions of employees.
The stocks for this employee stock ownership plan will come from the A-share common stock repurchased by the company from its dedicated repurchase account. The number of shares intended to be held under the employee stock ownership plan will not exceed 1.3 million shares, accounting for approximately 0.18% of the company's total equity at the time the draft of the employee stock ownership plan is announced. To meet the company's sustainable development needs and continuously attract and retain outstanding talent, the employee stock ownership plan intends to reserve 150,000 shares as reserved shares, accounting for 11.54% of the total number of shares in the employee stock ownership plan. The purchase price for the stocks from the company's dedicated repurchase account under this employee stock ownership plan is set at 25.53 yuan per share (including reserved shares)
