The Ministry of Communications and Mass Media proposes to legally allow Russian companies to issue options to employees

    The Ministry of Communications has prepared a bill on the conditions for the exercise of options. It is proposed to allow Russian companies to transfer free of charge or sell their own shares and shares in the authorized capital to their employees. It is known that the project was developed on the initiative of the department.

    It is planned to amend the laws "On Joint Stock Companies" and "On Limited Liability Companies" . The authors of the bill suggest introducing into these laws the concept of an option contract, which additionally regulates the relationship between the employee and the employer.

    In particular, such an agreement will provide for how much and at what price companies are going to sell their shares or shares to employees. And they will be able to leave the shares to themselves or, in turn, sell them at market prices. However, the bill also provides for certain restrictions. For example, options may be sold to an employee if he has worked for a certain time in the company. The company may stop selling options in case of failure to fulfill the plan to achieve high performance.

    It is assumed that the maximum share for transfer to employees will not exceed 25%. According to the bill, the maximum duration of an option contract should not exceed 7 years.

    “The need for change is experienced by high-tech companies in the IT sector. Small startups are most interested in them. The essence of the changes is as follows: start-ups sometimes cannot at the very beginning of their activities pay specialists involved. The proposed changes will allow them to interest specialists in shares in the authorized capital in the future, ”representatives of the Ministry of Communications explained to Izvestia.

    The legal options project is supported by Nadezhda Makarova, Deputy Head of the Legal Department of the National Legal Service:

    “Now the most common scheme is a simple receipt from the owner of the business with an obligation to sell or give the employee a percentage of shares, shares in the authorized capital if the desired result in sales or production is achieved. Unfortunately, in this scheme both understand that the commitment is a filkin letter. Therefore, the introduction of a legal option mechanism will make life easier for many companies, help competently motivate staff, and give businesses the opportunity to grow with the active efforts of interested people. ”

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