Our goal to allow senior Kiwi.com employees to have a share in the company’s future success has been accomplished! After months of planning, we have finally managed to create a Phantom Stock Scheme that will allow our employees to earn money without investing any additional capital or give up any bonuses or salary raises.
What on earth is Phantom Stock?
Phantom Stock differs from the standard “employee stock” in that it requires no additional financial investment from employees yet the payout is just as lucrative. In simple terms, it grants the right to a cash payment to employees owning them in the event of an IPO or a successful exit or change of investor. The payout is a multiple of the employee’s yearly salary based on the market value of Kiwi.com at the time of the successful transaction.
Who is eligible to receive Kiwi.com Phantom Stock?
To be consistent across all departments, shares are allocated to employees based on their internal job levels. The more senior the employee, the higher the allocation. The first allocation of shares starts 18 months after joining Kiwi.com and it’s for all employees on level 5 or upwards (e.g. Senior SW Engineer). Employees will receive ⅛ of their total share entitlement for every additional 6 months they remain at Kiwi.com. This will continue for up to 4 years when they will own 100% of their total share pool. If an employee leaves the company before the 4 years, the allocated stock will remain theirs. If an employee leaves the company in good standing, the Remuneration Committee will choose whether the Employee will receive a cash buyout of their vested allocation or if the employee may keep the vested allocation.
Employees don’t need to report or pay any taxes on their allocation either, and it’s available for non-full-timers too.
Would you like the opportunity to be part of this program? Check open positions and other benefits that Kiwi.com offers and don’t hesitate to apply!