According to relevant regulations, shareholders' rights (equity) must rely on specific entities, so the shares involved in options are subject to the following modifications:

(1)創始人(或其他特定人) 代持;

(1) Founder (or other specific person) holding on behalf of;

(2)設立員工持股的有限合伙企業,作為期權企業,持有公司期權池,其中創始人為普通合伙人;

(2) Establish a limited partnership enterprise with employee shareholding as an option enterprise, holding the company's option pool, with the founder being the general partner;

(3)設立員工持股的有限公司,作為期權企業,持有公司期權池;

(3) Establish a limited company with employee shareholding as an option enterprise, holding the company's option pool;

在實際股權激勵中,為了解決"股東權利(股權)必須依托于特定的主體"這一問題,也可以采用華為的做法,成立持股平臺公司,由平臺持有公司股權,而員工獲得的不是期權激勵,而是虛擬股票,員工享受虛擬股票衍生出來的分紅權和增值權.

In actual equity incentives, in order to solve the problem of "shareholder rights (equity) must rely on specific entities", Huawei can also adopt the approach of establishing a shareholding platform company, where the platform holds the company's equity, and employees receive virtual stocks instead of option incentives. Employees enjoy the dividend and appreciation rights derived from virtual stocks

影響期權池大小的因素

Factors affecting the size of option pools

01行業慣例

01 Industry Practices

按照硅谷的慣例,創業公司一般預留全部股份的 10%-20%作為期權池.

According to the convention in Silicon Valley, startup companies generally reserve 10% -20% of all shares as an option pool

02投資人要求

02 Investor Requirements

按照投資人要求,期權池一般要在投資人進入前設立,而且在投資人進入后還要達到一定比例,較大的期權池對員工和投資人具有更大吸引力.

According to investor requirements, option pools are generally established before investors enter, and a certain proportion must be reached after investors enter. A larger option pool has greater appeal to employees and investors

03公司未來人才需求量

03 Company's Future Talent Demand

創業公司現在的人才結構越完善,未來需要引進的緊缺人才越少,期權池就可以設計得小一些,否則,未來需要引進的緊缺人才越多,期權池相對就要越大.

The more comprehensive the talent structure of a startup company, the fewer scarce talents it needs to introduce in the future. Therefore, the option pool can be designed to be smaller. Otherwise, the more scarce talents it needs to introduce in the future, the larger the option pool will be

期權池股票來源

Source of stock in the option pool

期權池中的股權一般由創始人從自己持有的股權中提取,或者創始人與投資人按比例提取,屆時可以由創始人與投資人協商確定,如果后期期權泡不夠了,可以由公司向期權池定向增發或者由創始人 (或其他股東)給期權池轉讓一部分股權.

The equity in the option pool is generally extracted by the founder from their own equity, or proportionally extracted by the founder and investors. At that time, it can be determined through negotiation between the founder and investors. If the option bubble is insufficient in the later stage, the company can issue additional shares to the option pool or the founder (or other shareholders) can transfer a portion of the equity to the option pool

期權的分配

Allocation of Options

建議創業公司預窗的期權(或股權) 不要分得太快,因為股權是稀缺性資源,股權激勵的速度必須根據公司未來發展的實際情況,拿捏好分寸.

It is recommended that the pre window options (or equity) of start-up companies should not be distributed too quickly, as equity is a scarce resource, and the speed of equity incentives must be determined based on the actual situation of the company's future development, with a proper balance

期權《或股權) 建議不要一次性授予,而是要分期激勵,一定要設計好期權的分期、等待期、可行權日、期權行使期限等時間節點.

Option (or equity) is not recommended to be granted at once, but rather to be incentivized in installments. It is necessary to design time nodes such as the installment, waiting period, exercise date, and exercise period of the option

設置好退出機制

Set up exit mechanism

要設置好退出機制,員工離職時,股權激勵的期權有兩種情況,未成熟和成熟的,員工離職,未成熟的期權就失效了;對于已成熟的期權,建議公司按照事前約定回購,員工也要無條件配合回購價格也要事前約定好;或者是退出凈資產的價格,或者是融資的價格,或者是融資價格打折,在股權激勵方案中,事前的約定相當重要.

To establish a good exit mechanism, there are two types of options for equity incentives when employees leave: immature and mature. When employees leave, immature options become invalid; For mature options, it is recommended that the company repurchase them as agreed in advance, and employees should also unconditionally cooperate with the repurchase price and agree in advance; Either the price of exiting the net assets, or the price of financing, or the discount of financing price, in the equity incentive plan, prior agreement is quite important

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