How will our employee compensation plan evolve if we become public?
Our compensation committee is engaging a compensation consultant so that we can potentially adjust our approach to total rewards (including many elements of
our compensation plan) to ensure were competitive in the public environment.
We havent yet finalized how our compensation plan will change,
but its critical that SeatGeek remains an attractive place to work for current and future employees (particularly given the value of equity in recruiting), and well prioritize that as we nail down the new post-public comp plan. We value
employees (US and non-US) having equity ownership in SeatGeek; while the means by which folks gain equity will likely change (e.g., well potentially consider adding an RSU program, an employee purchase
program, adjusting the mix of equity vs. other forms of comp, etc.), we dont intend to move away from having equity as part of compensation.
We
expect this process to take place over the next several months. Well present any changes we make with the compensation committee to the company as soon as we have a program in place.
How will we go about issuing employee equity in the coming months?
Once we have an updated 409a valuation, well continue issuing employee options (for new hires as well as evergreen and promo grants) up until when we
potentially become a public company. These new grants will be given at a strike price equal to our most recent 409a valuation. We anticipate the number of options granted will remain the same unless otherwise determined by the Boards
Compensation Committee.
In parallel, were working on a new equity plan to migrate to once were public (see question above).
Do we know how contractors might be rewarded with options?
Well be addressing the potential of rewarding contractors with options as part of our compensation consultancy. As we tweak and add to our equity plan,
well clarify if and how contractors might participate.
Will we continue using Carta if we go public?
Its possible that well move off of Carta to a platform that is more commonly used by public companies (though we may ultimately remain with Carta).
Are there ways we can learn more about options beyond using a financial advisor?
We will be setting up an educational webinar with a partner in the coming months
please stay tuned for more!
Confidentiality, Insider Trading & MNPI
How
can employees avoid breaking the law now?
Insider trading laws apply at all times including now. These laws make it illegal to trade stock or
other securities (including derivatives) based on MNPI. MNPI, or Material Non-Public Information, is company news or information that has not yet been made public and which could have an impact on a public
companys share price. There are many types of information that can be MNPI. Examples include financial performance, news about executive departures, product developments, strategic partnerships, new client wins and acquisitions.