Zheng Quan Zhi Xing·2025-08-15 12:16Core Points - The article outlines the management and organizational structure of the stock option incentive plan for China COSCO Shipping Energy Transportation Co., Ltd, detailing the roles of various committees and departments involved in the plan's execution [1][2][3] Group 1: Management and Organizational Structure - The stock option incentive plan is managed by the shareholders' meeting, the board of directors, and the remuneration and assessment committee [1] - The board of directors is responsible for reviewing and approving the stock option incentive plan and its amendments, as well as overseeing the granting of stock options [1][2] - The remuneration and assessment committee drafts the stock option incentive plan and evaluates the performance conditions for the granted options [1][2][3] Group 2: Execution and Responsibilities - The execution departments include the board office/securities affairs department, financial management department, human resources/organization department, and legal and risk management department [2] - The board office/securities affairs department is responsible for information disclosure and tracking the implementation of the incentive plan [2] - The financial management department analyzes the achievement of annual performance indicators and assesses the fulfillment of performance conditions [2][3] Group 3: Approval and Implementation Procedures - The remuneration and assessment committee drafts the stock option incentive plan and submits it to the board for review after consulting with COSCO Shipping Group [3] - The board must approve the plan, and independent directors and the supervisory board must provide opinions on its benefits to the company [3] - The shareholders' meeting must approve the plan with a two-thirds majority vote, and the plan can only be implemented after this approval [3][4] Group 4: Granting and Exercising Options - The granting process involves the remuneration and assessment committee proposing a grant plan, which is then approved by the board [4][5] - The exercise of options requires the incentive recipients to submit an application, which is reviewed by the remuneration and assessment committee [6] - The company must disclose the exercise information and handle the necessary registration and settlement procedures [6][7] Group 5: Special Circumstances and Dispute Resolution - The plan outlines conditions under which the incentive plan may be terminated, including significant financial discrepancies or legal issues [7][8] - Special circumstances affecting individual recipients, such as misconduct or retirement, are also addressed, detailing how their options will be handled [8][9] - Disputes arising from the execution of the incentive plan should be resolved through negotiation or arbitration [10] Group 6: Financial Accounting and Tax Treatment - The accounting treatment for stock options is based on relevant accounting standards, with costs recognized over the vesting period [10][11] - Tax obligations for recipients of stock options are specified, with the company responsible for withholding and remitting taxes [10][11] Group 7: Internal Control and Supervision - The board of directors serves as the final authority for interpreting and approving the incentive plan [11][12] - Various departments are assigned specific responsibilities to ensure effective oversight and compliance with regulations [11][12]