Walr, the res-tech company behind the Walr data creation platform, today announces the introduction of its employee phantom stock plan. The phantom stock plan (or shadow options) scheme is offered to all employees, allowing them to participate in the future success of the company.
The scheme will allow all employees, no matter their seniority, to benefit from the growth of Walr in the form of financial reward, by simulating stock ownership. The launch of the plan demonstrates Walr’s dedication to living two of its values – ‘Empowered to Act Like Owners’ and ‘Celebrate as a Team’.
On joining the company, all employees get a number of “shadow options” (Walr will also retrospectively be giving shadow options to all staff that have already started). Should an exit event happen in the future, a bonus would be paid to each employee based on the value of the options at that time.
Additionally, employees can choose to take future bonuses as cash or as an equivalent value in shadow options based on the value of the company at the time of new issue. The benefit allows those individuals who would prefer the bonus immediately to collect accordingly, and others who wish to be further invested in the journey of the company to be rewarded in the future.
Patrick Fraser, CFO at Walr, comments, “We wanted a scheme that aligns with our values and made all employees feel part of the team driving the company forward. If the company grows, the value of the employee options grow. If we have success, we all benefit together. This is absolutely fundamental to Walr.”
The introduction of the stock plan follows Walr's official accreditation as a Great Place to Work®.