Unlike legacy practices that give free stock options to a handful of selected senior executives without requiring skin in the game, HKBN’s CO3+ is open to its supervisors-and-above-level talents. The majority of these are co-owners with full alignment for long-term shareholder value creation by investing their own savings into buying HKBN shares under the co-ownership plan.
Through this development, the combined number of Co-Owners under Co-Ownership Plans I, II, and III Plus now totals at 871, including 790 with an incremental investment of HK$290 million for the latest CO3+ tranche.
A tranche is a portion of something, in this case relating to money.
Commenting on this, CY Chan, HKBN co-owner and chief talent & purpose officer said, “Our CO3+ tranche has a three-year cumulative performance target with bonus share returns up to 1.33 times of the purchased shares by our co-owners, plus a one-year cooling off period before we grant the bonus shares. This four-year period allows us to focus on long-term value creation beyond the immediate market challenges.
"The fact that we are investing HK$290 million of our family savings into CO3+ is clear evidence of our confidence in the long-term future of our company,” he added.
Take-up rate for co-ownership 1, 2 and 3+
|Seniority||Take-up rate (%)|
|Total eligible for co-ownership||59%*|
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