行权期

证券给付型权证进入行权期后如果为价外权证的，投资者应审慎做出是否行权的决策，以避免因盲目行权带来损失。

In case the securities deliverable warrant is the out-of-the-money warrant in the exercise period , the investors shall prudently make the decision of whether to exercise for avoiding losses arising out of blind exercises .

另外，对于不在行权期的行权申报，本所交易主机将此类行权申报作自动撤单处理，自动撤单的成交回报中的撤单原因说明为“禁止行权”。

Furthermore , the exercises which are not reported in the exercise period shall be deemed to be withdrawn from the host computer of the exchange automatically , and the reason for such withdrawal in the trading feedback concerning the automatic withdrawal shall be stated as " no exercise " .

在行权期间与有效期上，本文认为有授予期模式的行权期间最具激励与约束效果，鉴于我国目前的情况，股票期权的有效期要定的适中。

The author thinks that stock option will have better prompting and restriction effects when adding a period of awarding time to it .

但在授予对象、标的资产、期权的授出数量限制、确定行权价格的依据、行权期及有效期等方面有所不同。

But there are some different ways on the vesting object , upper limits of the amount of Options , the measurement of the exercise price and the effective date .

从创业板股权激励方案的各方面统计来看，行权价格不是很合理、行权有效期及等待期过于谨慎、股票授予数量占总股本比例较小。

Statistics from various aspects of the GEM equity incentive program shows that the executive price is not very reasonable , the executive period of validity and the waiting period is too cautious , the total number of shares granted to equity ratio is too less .