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What happens with the shares (stock option plan) in the event of an employee’s dismissal from the LLC (SIA)?

In the event of an employee’s dismissal, he/she is obliged to sell his/her right to acquire the shares to the company, unless the company has given permission not to sell this right. The permission may have a definite period of validity. If the employee is granted the right to acquire the company shares, but he/she has not met the conditions set to acquire the shares (for instance, has not worked fully for the due period in the company), has decided to resign, the employee loses the right to purchase the shares. 

However, if the employee has served his due period in the company, to exercise his/her right to acquire the shares, but has decided to resign, the employee may exercise his/her right to acquire the shares within 6 (six) months from the termination of his/her employment relations with the employer. Having exercised his/her right to acquire the shares, the employee becomes a member of the company, with the right to receive dividends, with the right to vote, etc. (depending on the category of shares). 

For more detailed information, please book a consultation via email: mail@l2bmanagement.com or phone: +371 67373020, 371 67373021.

 

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