Xiaomi Group released a statement yesterday that the company’s board of directors has given over 70 million shares to the group’s 3,904 employees. The awards were given to outstanding young engineers, new employees in key positions in the team, and long-standing employees.
On Friday, at the close of trading, the price of Xiaomi shares was $ 3.37, that is, the total amount of donated shares exceeded $ 235 million, that is, each received an average of more than $ 60 thousand. Xiaomi highlighted that among the above employees, about 700 outstanding young engineers have been selected to participate in Xiaomi’s Young Engineers Incentive Program. They received $ 77.2 thousand each.
The Young Engineers Incentive Plan is personally led by Lei Jun, founder, chairman and CEO of Xiaomi Group. He approved the list, which included research engineers, testers, product managers, designers, and so on. They work in the fields of chip research and development, machine learning, software and hardware development, cloud computing, and so on. The youngest employee is only 24 years old.
Xiaomi said that this incentive plan will be rolled out to the entire company. In addition, it will be a long-term talent reward project for all of the company’s young engineers.
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