Employer Ordinary B Shares

mccarthy.087

Hi,

just looking to know if anyone has advice or had been in a similar position? So as part of my current employers long term incentive plan I was given 40,000 Ordinary B Shares at 10c each. Now I have decided to leave the company I am being told that because they are B shares and not A shares they will no longer be mine once I cease employment. Now there is the possibility that the company could partake in a successful IPO over the coming months and the figure been suggested as a possible per share is €4 which obviously mean a substantial pay day that I would miss out on…. I’m trying to ascertain if this is true and when I leave I can’t sell on these shares at a future date and if that’s the case can I transfer ownership of these shares now before I leave to a colleague who might be in a position to sell on if he is still a employee of the company? all advice is greatly appreciated

The J Stands for Jay

Usually these long term incentive plans don't give you shares, they give you options which will allow you to purchase shares at an agreed price at some date in the future. Part of this agreement is that you must remain in employment at the option date. There's nothing you can do of you leave the employment before then.

searay

https://www.boards.ie/discussion/2058206665/employer-ordinary-b-shares

Share incentive schemes are usually very specific to the company and the rules are set out in the associated documents including the Shareholders Agreement and Constitutution of the Company.

Normally an employee leaving can't transfer them and the Comapny or it's nominee has the right to buy them back at the issue price. You need to look at this in greater detail and decide if it's financially in your best interests to move job or wait until the shares vest in you and become realisable.