Share Schemes Remaining Intact
When it comes to share schemes, there are several issues that can arise in the context of TUPE.
One of the key concerns following the acquisition or merger of a business is whether share schemes, such as stock options or employee share ownership plans (ESOPs), will continue to be honoured by the new employer after the transfer.
Under TUPE, contractual terms and conditions of employment transfer to the new employer, including participation in share schemes. However, the specific terms of the share schemes may need to be reviewed to ensure they align with the new employer's policies and practices.
If the share schemes involve shares in the original employer's company, there may be questions about how the shares are valued and whether they need to be converted into shares of the new employer's company. This can be a complex issue that requires careful consideration and reliable advice.
GS Verde Law can provide expert legal advice on all areas of employment law - including TUPE - as well as support your newly acquired business on everything from transferring and onboarding employees to redundancies and appeals.