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CFLD announces share incentive plan, 107 mln shares granted at first
Last Updated: 2018-06-09 20:02 | Xinhuanet
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China Fortune Land Development Co., Ltd (CFLD) issued a notice on CFLD Stock Options and Restricted Stock Plan 2018 (Draft) on the evening of June 8.

According to the plan, a total of 117,610,000 A shares (RMB ordinary shares), which account for 3.98 percent out of the company's total shares, will be granted to 133 employees, 0.48 percent of all the staff (as of December 31, 2017) in the company.

It is a remarkable fact that the first 91.17 percent shares of the plan to be granted, while, the rest are reserved shares accounting for 8.83 percent.

Two forms are taken by the CFLD incentive plan, which include stock options and restricted stock. To be precise, under the plan, the strike price of the stock options is RMB 28.36/share; the granting price of restricted stock, however, is RMB 14.18/share.

According to 2017 annual report of CFLD, the company won a net profit of RMB 8.781 billion for its listed shareholders, and the net profit rate reached a three-year high at 14.72 percent.

After all, the share incentive plan will help optimize the corporate governance structure, improve the long-term incentive mechanism, and attract operating talent for the company to ensure achievements of its development strategies and operation objectives.

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