On November 13, 2016, Lawyer zhang Ling, a high-rankingpartner of Tahota, was invited by TsinghuaUniversity-Australian NationalUniversity technology and innovationmanagement master project to give a substantial lecturefor hundreds ofmanager-leveltraineesfrom all kinds of fields within the project in Sunshine restaurant in Tsinghua Science Park. The lecture’s title was TheNon-listed Company's Stock Equity Incentives.  

In recent years,our country has been trying to develop doubleengines--mass entrepreneurship and innovation. In order to promote their rapiddevelopment and to retain and recruit more talents, many enterprises have begunto try stock equity incentives. However, How to designa workable stock option incentive plan? How to maintain a stable corporateright of control? How to ensure the maximization of shareholders' interests?How to keep balance between incentive and constraint? The lecture was aimed atthese problems existing in practical enterprise management. The lectureinvolved the history&significance of stock option incentive mechanism, thecontent&value of stock equity, ways of stock equity incentives fornon-listed companies and design of non-listed company's equity incentive plan.All the points were analyzed in details with a large number of practicalexamples.

The lecture introduced the basic principles non-listedcompany's equity incentive scheme design should follow: being legal andregulated, being fighters oriented, maintaining a stable corporate right ofcontrol, ensuring the maximization of shareholders' interests, keeping balancebetween incentive and constraint and being workable. Secondly, preliminarywork, including demand judge, due diligence and internal management systemimprovement, should be done well. Finally, combining some rich and interestingcases, she guided enterprises to learn the eight elements affecting theirequity incentive plans: model, object, source, system, constraint condition,price, time.

During the lecture, trainees responded enthusiastically.They asked about the problems their own enterprises had, for example, how todesign state-owned enterprise's equity incentive plan, how to avoid equitydiversification risk for start-ups, how to avoid tax reasonably etc. Afterthe lecture, Zhang Ling was issued the letter of mentor appointment by TsinghuaUniversity-Australian National University technology and innovation managementmaster project.

http://fanyi.youdao.com/translate

.