As the weakest link in the domestic semiconductor industry, chip manufacturing is a top priority, especially advanced process technology. The biggest progress of domestic companies is that SMIC mass-produced the 14nm process at the end of 2019. A few days ago, SMIC issued an announcement, announcing the award of more than 17 million Hong Kong dollars to eight executives.
SMIC stated that a total of 9,464,602 share option options for the subscription of ordinary shares of US $ 0.004 per share in the company's share capital were conditionally granted under the 2014 share option plan effective November 15, 2013, subject to acceptance The grantee accepts, and abides by the share option plan and applicable laws and regulations.
The exercise price of the stock options is 18.096 Hong Kong dollars per share, which is approximately equivalent to more than 17 million Hong Kong dollars. The stock options are valid for a period of ten years from May 25, 2020, and mainly reward 8 senior executives.
Specifically, Chairman and Executive Director Zhou Zixue was granted approximately 659,100 share options, Executive Director and Co-CEO Zhao Haijun was granted approximately 217,700 share options, and Executive Director and Co-CEO Liang Mengsong was granted approximately 659,100 share options Gao Yonggang was granted approximately 568,800 share options, Chen Shanzhi was granted 62,500 share options, William Tudor Brown was granted 62,500 share options, Tong Guohua was granted 55,000 share options, and Cong Jingsheng was granted approximately 55,000 share options.
SMIC said that the grant of restricted shares is part of the company's compensation system, which aims to form a close interest and benefit sharing and risk sharing among shareholders, the company and its employees, and fully enhance the enthusiasm of directors.
The grant of restricted shares is intended to provide full encouragement to attract, retain and incentivize 8 directors to participate in the company's continuous operation and long-term development, and affirm their contribution to the company's growth.
Among the 8 award-winning executives, Liang Mengsong's identity is special. He was previously an executive of TSMC's R & D department and is considered to be one of the important personnel of TSMC's successful 16nm process. Then he switched to Samsung and joined SMIC in 2017. International, and later served as co-CEO, in charge of technology research and development.
SMIC's breakthrough in the 14nm process is reportedly due to Liang Mengsong's credit. However, due to the complexity of the current semiconductor process, advanced technology is not to say that one person can get it. Liang Mengsong has at least accelerated the mass production of domestic 14nm process Large, otherwise it will not be the highest in this equity incentive.
