The details of her deal are impressive Viva Wallet with JP Morganwhich after the bonus of 400,000 euros to each employee, goes one step further by turning its employees into … partners.
Especially as far as the company’s executives are concerned, according to information, 200 people will receive from 50,000 euros up to 4 million euros in cash and shares.
In particular, VivaWallet has distributed 35,000 stock options to 200 of its executives and these will be converted into shares at this stage and will be bought at 1,280 euros by the shareholders (JPM & WRL). They will be subject to a 15% tax after the relevant change made by the government instead of the previous 50%. Upon completion of the transaction, a new program (stock options plan) will be created from which these executives will automatically receive the same number of stock options they had before, while at the same time new executives who will enter this new program will receive the additional 15,000 shares. .
In fact, the goal of the shareholders (JPM & WRL) is to further increase the number of stock options in the coming years to gather the best that exist.
After all, Viva Wallet has created an ambitious Stock Options Program in 2018, with the aim of attracting and maintaining the highest level of human resources, effectively turning employees into shareholders of the company. In fact, it plans to reward its people who for a very long time (in some cases over 10 or even 20 years) share the vision and have implemented it, as a coherent and very effective team.
Through its stock options program, Viva Wallet has distributed 35,000 shares to 200 individuals. These rights will be secured in shares at the Closing of the Viva Wallet – JPMorgan Transaction (after the completion of the “Fit & Proper” process) and will be purchased by the joint stock companies (WeRealize and JPMorgan) at an agreed transaction price. These 200 people will benefit accordingly, based on the number of registered shares each holds, which reflects their contribution to the company and their tenure.
Once secured and at the close of the transaction, a new “Conversion” stock options program begins, through which employees will regain substantially the same number of stock options they had before closing. In addition, new and future employees will be able to acquire a portion of the additional 15,000 stock options to be distributed. Both shareholders, WeRealize and JPMorgan, have worked hard to ensure that employees remain actively involved as “intra-entrepreneurs” in the joint venture and have agreed to use the rights plan mechanism as the primary means of attracting and retaining talents.
The two Shareholders intend to further increase the number of stock options available in the coming years and to attract high-level human resources, as they implement Viva Wallet’s strategy throughout Europe.
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