A reporter from the China Business Daily learned that Unicom had a longer unlocking period when unlocking stocks held by employees, and forced a three-year profit improvement to realize its commitment to BAT investors.
'Only three years of performance targets can be effectively achieved at all levels of branches, we can achieve the goal of future profit promised when introducing strategic investment.' China Unicom revealed.
In addition, the reporter learned that China Unicom also presupposes 10% of the reserved shares for the future introduction of mid-to-high-end talent after BAT cooperation. In response to related issues, our reporter has issued an interview request to China Unicom. , China Unicom responded that: Everything is subject to the announcement.
Employees holding shares will be bundled for five years
'Unlocking conditions are particularly high, and personal, company performance must be up to standard, otherwise it can not be unlocked.' A Unicom staff told reporters.
The reporter learned that after Unicom's employee stock reforms, everything went smoothly and it was at least five years before it could completely unlock its holdings.
In August 2017, China Unicom announced the reform of the mixed ownership system. Chairman of China Unicom Wang Xiaochu announced the mixed reform plan at the performance announcement and announced that it will introduce several strategic investors including Tencent, Baidu, JD.com and Alibaba. China Unicom A shares.
At the same time, another announcement has also attracted attention from the outside world - "China Unicom: Restricted Stock Incentive Plan (Draft) and First-Stage Granting Plan (Draft) Summary Notice", which pointed out that China Unicom will provide the first phase of the core staff Granted no more than about 846 million restricted stocks, the raised capital will not exceed about 3.213 billion yuan. The target population for employee stock ownership will be 'middle-level management personnel, core company management personnel and professionals'.
In addition, the announcement also makes it clear that the 24 months after the grant of the restricted stock granted this time is the unlocking period of the incentive plan, and within the unlocking period, if the unlocking conditions stipulated in the incentive plan are met, the incentive object is granted the restriction Sex shares are unlocked in three phases.
The last unlocking period is 2020, which is the third year after the mixed reform. However, employees who hold shares after three years cannot obtain shares.
According to sources from China Unicom’s human resources department, it is actually a five-year instalment, which is a 24-month locking period, a 36-month unlocking period, and a uniform unlocking period during the unlocking period. 'Our incentives are honored, if we want to fully redeem our stocks, we must In the past month, the company has struggled for a long time and achieved long-term performance to retain its core talents. 'That is, the last unlock period of the stock needs to be evenly extended to the fifth year.
In addition, Unicom's assessment of staff standards is very simple. 'Three-year profit improvement plan from 2018 to 2020, to optimize the cash flow-oriented.' The aforementioned person said.
On the basis of the requirement for cash flow, this person also stated: 'The three-year performance target can be effectively decomposed at various levels of branches, and the future profitability goals that our group promised in the introduction of strategic investment can be realized.'
Unlock harsh
It is understood that China Unicom has 31 provincial-level, 2280 county companies, and research institutes. According to the aforementioned sources, employees at all levels of holdings, 'If you do not achieve performance goals, even if the group can unlock, organizations and individuals cannot All unlocked, giving direct financial penalties to organizations and individuals who have not completed performance targets'.
The source also stated that, for how many shares are held, 'the amount of secondary company limited shares granted is linked to the three-year cash flow's level. Our restricted stock is a resource for long-term incentives, and his grants are for three years of free cash with the second-tier companies. The stream's contribution is linked to the incentive for the entity to optimize cash flow.
In view of such demanding conditions of shareholding and unlocking, a Unicom employee told reporters: 'Not everyone wants to buy, may not have confidence in their own branch office, performance pressure is too great.'
The “China Business” reporter learned from various sources that the branch company had internal public notices on the list of employees holding shares.
'Shareholders are generally at the departmental level, including leaders at the deputy department level.' China Unicom insiders told reporters.
According to the shareholding ratio of a branch company of China Unicom, about 4% of the employees will receive shares in this round of employee share reform.
According to the results, in the first quarter of 2018, China Unicom realized revenue of 74.935 billion yuan, an increase of 8.59% year-on-year. The total service revenue was 66.609 billion yuan, up 8.4% from the same period of last year.
According to data released by China Unicom, China Unicom has introduced 14 strategic investors and obtained a capital injection of 78 billion yuan. At the same time, China Unicom and its partners have actively and effectively cooperated in various aspects such as channels and content.
Unicom both inside and outside the two days
At the same time that mixed reforms were taking place, China Unicom experienced a series of internal turnovers of senior executives. The aforementioned personnel from the human resources department acknowledged this to reporters.
When a reporter asked about the situation of grassroots employees leaving, the person said: 'We are a big company and it should be normal.'
At the end of 2017, Wang Xiaochu had stated that China Unicom had 14 deputy executives 'withdraw', and the exit rate of party group managers exceeded 6%.
The reporter had previously interviewed Zhao Yujun, general manager of Shandong Unicom, who had already resigned. He told reporters that he had indeed left China Unicom, but this matter is a personal career planning choice and has nothing to do with mixed reform.
Jiao Gang, the general manager of China Unicom as Cloud Data Co., Ltd., has been retired in the second half of 2017. The big data business is precisely the business direction that will focus on the development of China Unicom.
In addition, at the beginning of 2018, Han Zhigang, vice president of China Unicom’s operating company and general manager of the network development department, officially left China Unicom and represented Xinhua III in public.
According to sources from China Unicom’s human resources department, after the brain drain, China Unicom will promote deeper cooperation with BAT in important areas, 'specially reserve 10% of its shares for innovative talents, and intensify future cooperation with strategic investors, so it is necessary to retain shares in high-end talents. '.
As to whether or not future talented personnel will meet the same level as BAT, the person in the human resources department said, 'Remuneration can't be equal to BAT's, and long-term benchmarking, benchmarking, business, and performance are the foundation, and it's impossible for the entire staff to do this. Things. '