小红书期权兑现期变久，大厂期权也「不香了」

Core Insights - The article discusses the changing landscape of employee stock options in major internet companies, highlighting a shift towards more immediate cash compensation rather than long-term stock options [1][10][20] Summary by Sections Stock Option Adjustments - Xiaohongshu announced a change in its employee stock option vesting schedule from a "50%+25%+25%" model to a "15%, 25%, 25%, 35%" gradient vesting plan, effective January 1, 2024 [1] - ByteDance has increased its stock option grant price from $18 to $25 per share, maintaining the exercise price at $2, resulting in a per-share profit of $23 [1][2] Employee Compensation Trends - ByteDance's stock options have seen significant appreciation, rising from $44 to $189.90 per share since 2019, with a consistent semi-annual growth rate of at least 5% [3] - The article notes that many employees are now prioritizing immediate cash returns over potential future gains from stock options, reflecting a broader industry trend [10][20] Comparison of Vesting Schedules - Various companies have different stock option vesting schedules, with ByteDance implementing a 20%, 25%, 25%, 30% model starting January 1, 2024, while Alibaba will adopt a 15%, 25%, 25%, 35% model from April 1, 2024 [6][7] - The trend indicates a longer vesting period to encourage employee retention [6] Employee Rights and Protections - ByteDance has increased the buyback price for departing employees' stock options, enhancing protections for their rights [3] - The company has introduced a transitional subsidy for employees who are involuntarily laid off, providing up to 12,000 RMB per month for six months [3] Market Dynamics and Employee Sentiment - The article highlights a shift in employee sentiment towards stock options, with many now viewing them as less reliable due to market volatility and the uncertainty of IPOs [12][20] - Employees are increasingly seeking companies that offer clear paths to cash compensation rather than relying solely on stock options [20] AI Talent Competition - The article notes that companies like ByteDance are actively competing for AI talent by offering substantial stock options and cash incentives, reflecting a strategic shift in talent acquisition [15][19] - ByteDance's new "Doubao Long-term Incentive Plan" aims to bind core talent through a virtual equity system, indicating a proactive approach to talent retention [16] Conclusion - The evolving landscape of employee compensation in the tech industry suggests a growing preference for immediate financial returns over long-term stock options, driven by market conditions and employee expectations [10][20]