Total Rewards Asia Summit 2024 Singapore
human resources online

HKBN expands co-ownership plan to supervisors

閱讀中文版本

Hong Kong-based broadband provider HKBN has announced that its Co-Ownership Plan III Plus (CO3+) has received positive feedback from talents, including many former WTT and JOS employees who were integrated after both companies were acquired by HKBN.

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+

SeniorityTake-up rate (%)
Management committee100%
Director100%
Associate director100%
Manager77%
Supervisor51%
Total eligible for co-ownership59%*
* Includes 790 who invested into the most recent CO3+ tranche. In total, HKBN has about 6000 talents.

 

Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!

Related topics

Related articles

Free newsletter

Get the daily lowdown on Asia's top Human Resources stories.

We break down the big and messy topics of the day so you're updated on the most important developments in Asia's Human Resources development – for free.

subscribe now open in new window