顾名思义，影子股东，其手中持有的是公司的影子股票。济南股权合伙公司人员认为，所谓影子股票，是指公司授子企业内外特殊 资源掌握者的增值安排。这种增值安排基于公司股份登记价值或公允市场价值、公式价值等。持有该种股票的人或机构，并没有实际拥 有公司股票，也没有法律上的投票权和决策权，但他们有资格接受分红或者其他等价物。

As the name implies, shadow shareholders hold shadow shares of the company. According to the personnel of Jinan Equity Partnership, the so-called shadow stock refers to the value-added arrangement granted by the company to special resource holders inside and outside its subsidiaries. This value-added arrangement is based on the registered value or fair market value of the company's shares, formula value, etc. The person or institution holding such shares does not actually own the company's shares, nor has the legal voting power and decision-making power, but they are qualified to accept dividends or other equivalents.

优点：

advantage:

不需要管理层投资

No management investment required

影子股东的授予资格，是一种保留特殊资源的有效手段优点公司保留了投票权和所有权激励对象不需要实际购买任何股票就能得到激励和利益。

The granting qualification of shadow shareholders is an effective means to retain special resources. The company retains the voting rights and ownership. The incentive objects can get incentives and benefits without actually purchasing any shares.

对于希望保持私人控制特殊资源权的公司，影子股东激励计划非常但也存实用（在部分风险）。

For companies that want to maintain private control over special resource rights, the shadow shareholder incentive plan is very practical (at some risks).

缺点：

Disadvantages:

由于通常利用现金形式结算，如果事先没有做好预算和计划，影子需要设股东的激励计划可能会带来现金流问题（需要设计预案）。

Because cash is usually used for settlement, if the budget and plan are not prepared in advance, the shadow needs to set up incentive plans for shareholders, which may cause cash flow problems (need to design a plan).

如果影子股东激励计划的对象是内部员工，由于缺乏实际所有权，可能不会像实际的股权激励那样有效果。

If the target of the shadow shareholder incentive plan is internal employees, due to the lack of actual ownership, it may not be as effective as the actual equity incentive.

影子股东激励计划可能导致无法预测或无限制的收入费用由于该计划使用的估价方式比较复杂，被激励对象难以随时知道自身拥有的影子股票的价值。

The shadow shareholder incentive plan may lead to unpredictable or unlimited income and expenses. Due to the complex valuation method used in the plan, it is difficult for the incentive object to know the value of its own shadow shares at any time.

通常情况下，影子股东激励计划是非上市公司针对关键人员所使用的，而在上市公司，该激励计划并不常见。如上所示，为影子股 东激励计划的优缺点对比。您在使用时要慎重考虑，更多事项就来我们网站http://www.guquanzhanlue.com留言咨询吧！

Generally, the shadow shareholder incentive plan is used by non-listed companies for key personnel, while in listed companies, this incentive plan is not common. As shown above, the advantages and disadvantages of the shadow shareholder incentive plan are compared. You should consider carefully when using it, and come to our website for more matters http://www.guquanzhanlue.com Leave a message for consultation!