HackMotion Expands Stock Options Scheme as Profits Soar 476%
HackMotion, a rapidly growing Latvian tech firm, has announced a significant expansion of its employee stock option scheme. The company, which has seen remarkable growth in recent years, aims to reward its team with a share in its stock market success.
HackMotion's turnover surged by 160% to EUR 7.3 million in 2024, with profits rising by a staggering 476% to EUR 2.2 million. To share this prosperity with its employees, the company has decided to pay dividends to stock option holders who have been with the firm for at least a year.
Stock options, introduced in Latvia in 2020, give employees the right to buy company shares at a future date at a price set at the time of allocation. This allows employees to profit from the increase in share price as the company grows. Latvia's regulation for stock options has been internationally recognised as one of the best in the world, making it an attractive tool for companies to attract top talent.
HackMotion, which won the Latvian-American Innovation Award in 2020, plans to significantly grow its team and increase turnover. It aims to offer better salaries to employees, but stock options serve as an additional incentive. Employees can choose not to exercise their right to buy shares through stock options, but the company hopes that many will take advantage of this opportunity to share in its success.
HackMotion's decision to expand its stock option scheme is a testament to its commitment to its employees and its confidence in its future growth. As the company continues to thrive, its employees will have the opportunity to reap the benefits of their hard work and dedication.
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