The initial ESOP, valued at HUF 1,113 million (approximately $3.2 million), targeted management and key employees, encompassing 40 individuals. Under the program, participants were granted ownership of Waberer’s Employee Stock Ownership Programme and were allotted funds to purchase shares in the company.
Now Waberer’s has announced its decision to enhance the ESOP by extending participation to a wider pool of employees. As part of the expansion, Waberer’s will inject an additional cash contribution of HUF 64.9 million into the ESOP Organization by April 30, 2024.
This infusion of funds will enable more employees to partake in the ownership program, fostering a sense of shared responsibility and alignment of interests between the workforce and the company’s performance.
The ESOP initiative aligns with Waberer’s strategic vision, which aims to incentivise employee commitment and drive long-term value creation. Under the ESOP remuneration policy, eligible participants stand to receive cash-based rewards upon the sale of their shares, contingent upon the attainment of specific EBIT targets outlined in the company’s strategic plan.
The earliest potential payout date is anticipated to be in 2026.