職工股能否轉讓？
Can employee shares be transferred?
在改制企業中，大量職工以職工持股會的形式持有公司股權。部分職工將股權對外轉讓，受讓人要求公司將自己登記為股東，公司予以拒絕，受讓人即要求撤銷股權轉讓合同或主張股權轉讓無效。對此種轉讓的性質及效力實踐中爭議很大。
In restructured enterprises, a large number of employees hold company equity in the form of employee stock ownership associations. Some employees transfer their equity to external parties. The transferee requests the company to register themselves as shareholders, but the company refuses. The transferee requests the cancellation of the equity transfer contract or claims that the equity transfer is invalid. The nature and effectiveness of such transfers are highly controversial in practice.
要正確解決這個爭議，關鍵是要明確轉讓標的的性質。職工、職工持股會和公司之間形成的三方關系并不是委托代理關系，而應當屬于信托關系。因為職工的股權已轉移到職工持股會的名下，職工持股會是以自己的名義持有公司股權的，股權的受益由職工享有。
To properly resolve this dispute, the key is to clarify the nature of the transfer subject matter. The tripartite relationship formed between employees, employee shareholding associations, and the company is not a principal-agent relationship, but should belong to a trust relationship. Because the equity of employees has been transferred to the name of the employee stock ownership association, which holds the company's equity in its own name, and the benefits of the equity are enjoyed by the employees.
職工屬于信托關系中的委托人，也是受益人，而職工持股會屬于受托人。因此，作為登記在冊的公司股東是職工持股會，而不是職工，職工不應直接作為公司的股東來確認。
Employees belong to the trustor and beneficiary in the trust relationship, while employee stock ownership belongs to the trustee. Therefore, as a registered shareholder of the company, it is the employee stock ownership association, not the employee, and the employee should not be directly recognized as a shareholder of the company.
職工所持有的，只是在職工持股會中的信托份額，所轉讓的只是信托份額的受益權，其效力應當按照信托受益權轉讓的規定予以判定。實踐中把信托誤認為是委托，或者以職工股不能直接登記為公司股東為由認定轉讓合同無效或撤銷的，屬于適用法律不當。
What employees hold is only the trust shares in the employee stock ownership association, and what is transferred is only the beneficial right of the trust shares. Its effectiveness should be determined in accordance with the provisions on the transfer of trust beneficial rights. In practice, mistaking a trust for a trust or determining that a transfer contract is invalid or revoked on the grounds that employee shares cannot be directly registered as shareholders of the company is inappropriate for the application of law.
干股能否轉讓？
Can dry shares be transferred?
山東股權公司提醒您，這是不能的。干股是一種俗稱，是指不實際出資或用勞務、信用、自然人姓名、商譽等不符合《公司法》規定出資形式的要素出資，而占用公司一定比例的股份的股東。
Shandong Equity Company reminds you that this is not possible. Dry shares are a common term that refers to shareholders who do not actually contribute or use factors such as labor, credit, natural person name, goodwill, etc. that do not comply with the provisions of the Company Law, but occupy a certain proportion of the company's shares.
由于干股股東并沒有按照《公司法》的要求出資驗證，也沒有登記在公司股東名冊內，不是真正意義上的股東，也不擁有股份股權，因此不能對干股進行轉讓。事實上，干股是一種公司的分紅協議，而不是真正的股權。
Due to the fact that the shareholders of dry shares have not verified their capital contributions in accordance with the requirements of the Company Law, nor have they been registered in the company's shareholder register, they are not true shareholders and do not own shares and equity, therefore they cannot transfer dry shares. In fact, dry shares are a type of dividend agreement for a company, rather than true equity.
That's all for the related matters regarding the transfer of employee shares and dry shares. We hope to provide you with good help. For more information, please come to our website http://www.gzygwz.cn Consult!
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