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Our senior associate Taavi Kõiv took the front stage on the first day of Latitude59, leading an insightful workshop on option schemes for startups. The venue was packed to capacity, with every available seat taken. Taavi didn’t disappoint as he showed displayed his profound knowledge and expertise in this area, once again reminding us why he is a go-to person in this field. Matching his vigour was the audience, who not only listened attentively but constantly asked engaging questions.
Why option plans?
We got to learn that there are different types of options. However, the focus of the workshop was the employee stock options. Here are some reasons behind establishing a stock option scheme:
😀 To motivate employees monetarily (without tax)
🤼 To create a feeling of community, a common goal
🏆 To be competitive in the job market (access to top talents)
Taavi explained the taxation process and how/where it enters the picture. Then, he proceeded to explore how to create and share a sustainable option scheme. Finally, he shared tips and tricks to make the best of a chosen options scheme.
If done right…
During the workshop, Elise Sass, co-founder of the innovative startup Salto X, also provided valuable insights into how their platform simplifies stock option plans and shared practical tips from her experience running stock option programmes. She said one thing which stood out to us “For most companies, equity incentive plans don’t work… However, they can if done right.” And yes, Salto X can help do it right.
The platform offers numerous benefits for the startup setting up the scheme and the employees involved. As legal experts, we are well aware of everything that could go wrong if there’s a single misstep while setting up an option scheme. But likewise, we see how the right setup has benefitted and continues to benefit our clients.
Thank you & we are here for you
We hope attendees gained useful insights that can help them develop competitive option schemes to motivate and reward their teams. Again, thank you to all who joined us at this workshop, and we look forward to sharing more expertise at future events.
As always, Hedman remains right here to provide you with legal assistance and help you navigate the process of setting up a beneficial options plan without hassles. At the same time, we are on ground to advise you on a wide range of matters, from intellectual property to fundraising, to regulatory compliance. Contact us!
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