Working at Bob W means walking in like you own the place.
Because you do.
At Bob W, we’re committed to five-star experiences for our guests and our Bobstars. That’s why our team members are welcomed into the Bob W owners’ club through our employee share option plan (ESOP).
It’s how we ensure that Bobstars share in the growth they help create. If you’re checking out our open positions, keep reading for an overview of Bob W’s ESOP.
What’s an employee share option plan (ESOP)?
An ESOP gives Bobstars the right to buy company shares at a set price on a specific date. Once a Bobstar exercises1 their options they become owners.
It’s important to point out that an ESOP doesn’t require you to buy company shares, but it does lock in the price of company shares if you decide to buy them in the future. By helping Bob W succeed and increase in value, you’re increasing the value of your shares.
How to receive Bob W share options
The first step should be pretty obvious — join our team!
Your agreed salary and level will determine your number of share options. Once you successfully finish your probationary period, you receive a share options certificate. It’s your Bob W owners’ club card. It states the details of when you receive your share options and their exercise price2.
What is the Bob W share option plan timeline?
The share option plan gives you long-term benefits. The time you put into Bob W unlocks portions of your share options at specific time intervals.
The ESOP Life-cycle at Bob W
Your one-year anniversary with Bob W will be the first time you unlock a portion of your share options. This time period is called the cliff (congrats, you can now sound really impressive when explaining this to your friends). At this point, you unlock a quarter of your share options.
With the Bobiversary and the owner vibes really setting in, you’ll probably just keep rocking it like a Bobstar. Meanwhile, your stock options will now accumulate quarterly — like an automatic savings account.
Next thing you know it’s your four-year anniversary — the date when all of your share options are available to you.
Congrats, you’ve reached your vesting date3!
Once you’ve made it there, you can choose to buy company shares at the price indicated on your certificate. If those four years have led to an increase in Bob W’s valuation, enjoy the value you’ve created for yourself! It’s like you’ve walked in on a great sale for something you know you’ll be able to sell at a higher price.
Other questions you may have about Bob W’s share option plan
What determines the value of Bob W shares?
As an investor-funded startup, our valuation at the latest fundraising round helps determine our share value.
In the context of the ESOP, your exercise price is tied to the company valuation for the most recent fundraising event. As the company achieves its goals with you on the team, Bob W’s valuation will grow — meaning that you’ll be able to buy shares after your vesting period for less than they’re worth.
How do promotions affect share options?
We love that you’re already setting your sights on personal growth and development. Very Bobstar of you.
Depending on the new role you may be eligible for a share option “top up”.
What are the tax implications of my Bob W share options?
There are tax implications at the time you exercise share ownership or sell shares. These are based on local laws according to your tax residency. This also determines if your exercised stock options and sold shares are taxed as income or capital gains.
Death and taxes may be certain, but they can get complicated. That’s when you should consult a tax advisor.
When do my share options turn into, you know, real money?
When you sell them!
There are several scenarios for when this can happen — like if Bob W gets acquired or goes public. When this happens depends on how we perform as a company. The point is to keep delivering five-star experiences that make us worthy of Bob’s name.
The biggest factor for you is whether you’ve made it past your cliff period when that happens. If yes and the current share value is higher than your exercise price, you’ll have an opportunity to buy your vested shares and sell them — at a profit. Bobstars who already exercised options can simply sell the shares they own.
Bob W Owners’ Dictionary
1 EXERCISE: no gym trips here, this is you buying your vested stock options.
2 EXERCISE PRICE: the share price locked in when your ESOP is issued at the end of your probation period. Usually set by our latest valuation.
3 VESTING DATE: the date you can exercise 100% of your share options. (You don’t have to, but you have the option to.)