Another season of ESOP is coming, bank staff are about to receive hundreds of millions of cheap shares
Administrative Council VPBank recently approved the implementation of the plan to sell shares under the employee selection program (ESOP). Specifically, the bank will offer 30 million treasury shares to employees at an expected price of 10,000 VND/share. In which, the maximum number of shares to be issued to foreign employees is 10 million shares, accounting for 33.33% of the total number of shares issued this time.
These shares will be restricted to transfer up to 3 years from the end of the issuance and will be released gradually according to the schedule of 30%, 35% and 35%. If the offering is successful, VPBank will collect up to 300 billion VND. The proceeds from the issuance will be used to supplement the working capital of the bank.
In 2021, VPBank sold 15 million shares from treasury shares to nearly 300 employees under the ESOP program for 10,000 VND.
In 2020 and 2019, VPBank also distributed 17 million and 31 million ESOP shares to employees at the price of 10,000 VND, respectively.
Similar, Techcombank also prepare to issue more than 6.3 million ESOP shares, equivalent to more than 0.18% of outstanding shares at the price of 10,000 VND/share. In which, 5.3 million shares were issued to Vietnamese employees and 967,367 shares were issued to foreign employees.
Previously, Techcombank also issued 6 million ESOP shares for 237 employees in September 2021.
In 2020, 2019 and 2018, the bank offered 4.76 million shares, 3.5 million shares and 17 million shares, respectively, to employees at the price of 10,000 VND/share under the employee selection program.
Latest, VIB also announced the issuance of more than 10.9 million ESOP shares at the price of 10,000 VND/share on May 30. These shares are limited to transfer for only 1 year. In which, Deputy General Director An Thanh Son plans to buy more than 222,000 shares; Chief Accountant Pham Thi Minh Hue (202,218 shares), Deputy General Director Tran Nhat Minh (217,365 shares), Deputy General Director Ho Van Long (193,365 shares) and General Director Han Ngoc Vu (28,857 shares) .
At the beginning of the year, HDBank also issued 20 million ESOP shares to senior staff at the price of 10,000 VND/share. ESOP shares will be restricted from being transferred for 3 years from the date of completion of the issuance (January 5, 2022).
Previously, HDBank also distributed nearly 3.3 million treasury shares to leaders and employees at the price of 10,000 VND/share in 2020. The above shares were distributed to 205 officers and employees of the bank. during the period from March 9, 2020 to March 31, 2020 through the Securities Depository Center.
At the Annual General Meeting of Shareholders in 2022, ABBank approved the plan to issue 5 million ESOP shares at the price of 10,000 VND/share. Before that, at the end of 2021, the bank also issued more than 11 million ESOP shares to employees at the price of 13,000 VND.
In addition to the names mentioned above, a series of other banks also plan to issue ESOP shares this year such as: TPBank, MSB, and SHB with volume of 5.2 million units, 12.25 million units and 45.1 million units respectively.
ESOP (issuance of preferential shares for employees) is roughly understood as the sale of shares by businesses to excellent employees, employees according to selected criteria at a preferential price that is often much lower than that of employees. with market prices.
The goal of ESOP is to motivate employees, encourage and improve the roles, responsibilities and interests of officials and employees of the company… In addition, the program also helps these employees reduce substantial personal income tax payable when compared to monetary rewards. Therefore, ESOP will promote productivity as well as retain and attract talent, thereby positively impacting the bank’s business performance.
The advantage of ESOP is not only a strategy to retain good employees, but also through which to increase capital for the bank. That is also the reason why banks have increased the issuance of ESOP shares in the past time as well as the plan for the coming time.
Mr. Dao Manh Khang, ABBank’s Chairman of the Board of Directors, said that the issuance of ESOP shares is meaningful as a remuneration policy to recognize labor results, motivate staff’s efforts, through attaching employee benefits and bank benefits.
At the same time, according to Mr. Khang, this is also an additional source of capital mobilization for ABBank to realize its goal of increasing the size of operating capital, meeting the bank’s business development requirements in the future, and ensuring compliance with a sufficient level. prescribed capital.
HDBank’s leaders also said that the issuance of ESOP shares is to recognize the contribution of employees in the business process, bringing in revenue and profit exceeding the bank’s plan, and at the same time. encourage working times and long-term attachment of employees.
According to VPBank leaders, the purpose of issuing ESOP shares is to enhance the roles, responsibilities and interests of employees; attaching the interests of employees to the company’s interests, creating motivation for employees; encourage staff, increase motivation for staff when working professionally at the company; attract talents and retain qualified staff to serve the company for a long time.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
