TIAN RUIXIANG Holdings Ltd Announces 2021 Performance Incentive Plan

Rhea-AI Summary

TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) announced the adoption of a new performance incentive plan (the '2021 Plan') aimed at motivating employees based on their performance. To support this, the company filed a registration statement on Form S-8 to register 5 million Class A ordinary shares to be issued under the plan. CEO Zhe Wang emphasized that this initiative is designed to enhance employee commitment and attract talent, ultimately creating value for stakeholders.

Positive

• Implementation of the 2021 Plan to incentivize employee performance.
• Registration of 5 million Class A ordinary shares to support the incentive plan.

Negative

• None.

BEIJING, Dec. 8, 2021 /PRNewswire/ -- TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) (the "Company"), a China-based insurance broker, announced today that the Company adopted a performance incentive plan (the "2021 Plan") to motivate and reward eligible employees based on their performance.  The Company has also filed a registration statement on Form S-8 (the "Registration Statement") to register 5,000,000 Class A ordinary shares, par value of US$0.001 per share (the "Class A Ordinary Shares"), of the Company, issuable pursuant to the the 2021 Plan. In accordance with Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement also covers an indeterminate number of additional securities which may be offered and issued under the 2021 Plan to prevent dilution from stock splits, stock dividends or similar transactions as provided in the 2021 Plan.

Mr. Zhe Wang, Chairman of the board of the directors and Chief Executive Officer of the Company, commented, "We value our employees' hard work and dedication that have been the bedrock of our growth over the past years. The 2021 Plan is intended to provide our employees the opportunity to participate as co-owners of the Company and share the value they helped to create. We anticipate that the 2021 plan will attract more insurance talents, further strengthen our employees' commitment to the Company's success, and create value to our stakeholders in the longer run."

About TIAN RUIXIANG Holdings Ltd

TIAN RUIXIANG Holdings Ltd, headquartered in Beijing, China, is an insurance broker operating in China. It distributes a wide range of insurance products, which are categorized into two major groups: (1) property and casualty insurance, such as automobile insurance, commercial property insurance, liability insurance; and (2) life insurance, such as individual and group life insurances. Additionally, the Company also provides risk management services to institutional customers. For more information, visit the company's website at http://ir.tianrx.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review risk factors that may affect its future results in the Company's registration statement and in its other filings with the SEC.

For investor and media enquiries, please contact:

TIAN RUIXIANG Holdings Ltd
Investor Relations Department
Email: ir@tianrx.com 

Ascent Investor Relations LLC
Tina Xiao
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com 

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SOURCE TIAN RUIXIANG Holdings Ltd

FAQ

What is the 2021 Plan announced by TIRX?

The 2021 Plan is a performance incentive initiative aimed at motivating and rewarding eligible employees based on their performance.

How many shares are registered under the 2021 Plan for TIRX?

TIAN RUIXIANG Holdings Ltd has registered 5 million Class A ordinary shares under the 2021 Plan.

What is the purpose of the performance incentive plan by TIRX?

The purpose is to motivate employees, enhance commitment to the company's success, and attract insurance talents.

When was the press release about the 2021 Plan issued by TIRX?

The press release was issued on December 8, 2021.