Mr. Doan Van Hieu Em - Board of Directors of Mobile World - was approved to buy nearly 1.6 million preferential shares at the price of 10,000 VND. Thus, he only needs to spend nearly 16 billion VND to buy a lot of shares with a market price of nearly 90 billion VND.
Mr. Doan Van Hieu Em received a salary of 0 VND for the whole year of 2024 - Photo: FBNV
3 key leaders receive zero salary
After a year of great profits, the Board of Directors (BOD) of Mobile World Investment Corporation (MWG) recently approved the issuance of shares under the employee stock option program for key managers of the company and its subsidiaries, abbreviated as ESOP 2024.
The total number of ESOP shares issued this time is more than 19.93 million shares, with a preferential price of VND10,000. According to the resolution, Chairman Nguyen Duc Tai and non-executive members of the Board of Directors do not participate in this policy.
In the list of employees participating in the ESOP 2024 program that has just been announced, Mr. Doan Van Hieu Em - a member of MWG's Board of Directors - has the largest number of shares approved for purchase with nearly 1.6 million.
To buy the above number of shares at a preferential price of 10,000 VND, Mr. Hieu Em only needs to spend nearly 16 billion VND. Meanwhile, if converted according to the market price (calculated according to the closing price on February 13), this batch of shares is worth nearly 90 billion VND.
Notably, throughout last year, Mr. Doan Van Hieu Em and two senior leaders of MWG did not receive any salary.
In addition to Mr. Hieu Em, the other two people, including Chairman Nguyen Duc Tai and Mr. Tran Huy Thanh Tung - member of the Board of Directors and General Director - also received zero salary. But both of them are not on the list of ESOP 2024 recipients.
Only 300/ 64,000 employees can buy
In addition to Mr. Doan Van Hieu Em, the list also details more than 300 other employees working at MWG who were able to buy shares at a much cheaper price than the current market price.
According to the data provided in the consolidated financial report for the fourth quarter of 2024, MWG's total number of employees at the end of last year was nearly 64,000 people.
ESOP is an abbreviation for the English phrase "Employee Stock Ownership Plan", which means issuing bonus shares to employees. This is a popular method applied by many companies, including MWG, to encourage and reward employees.
The issuance of preferential shares under the ESOP program in 2024 is calculated by MWG based on the completion rate of the 2024 after-tax profit plan of 155.5%.
In addition, MWG said the average stock price movement in 2024 compared to 2023 is 33%, calculated by the average closing price.
Accordingly, MWG's stock price has a performance that is at least 10% better than the average performance of the VN-Index, so the maximum ESOP issuance rate is 2%.
Finally, based on business results and personnel restructuring results, MWG's Board of Directors decided to issue more than 19.93 million ESOP shares, equivalent to a ratio of 1.3642%. The expected implementation time is in the first quarter of this year.
All ESOP shares will be restricted from transfer within 2 years from the date of issuance. At the end of the session on February 12, MWG's market price was VND56,400/share.
Thus, if calculated according to the current stock price on the stock exchange, the ESOP issuance is worth over VND 1,100 billion. However, in reality, MWG's officers and employees only need to spend nearly VND 200 billion to buy all these shares.
By 2025, MWG approved a business plan to submit to the annual general meeting of shareholders with a target of net revenue of VND 150,000 billion and after-tax profit of VND 4,850 billion.
Source: https://tuoitre.vn/nhan-luong-0-dong-nhung-sep-the-gioi-di-dong-sap-co-khoi-tai-san-90-ti-dong-20250213190624581.htm
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