Employee stock option

Employee shares are shares of their own company, which can be acquired by the employees. Often, these shares are sold at a discount ( preferential rate ) on the current market price to employees. They are therefore a form of workers' participation in productive capital of a corporation dar.

The issue of employee shares were issued as part of an Employee Stock Ownership Program ( ESOP ) and senior staff at Executive Stock Ownership Program.


With the issue of employee shares, the following purposes are to be achieved:

  • Wealth creation among employees (fair distribution of wealth in an economy ).
  • Wide dispersion of shareholdings ( raising the shareholder ratio ).
  • Retain employees of the operation.
  • Increase the loyalty of workers to the company.


The emission takes place in the context of a conditional capital pursuant to § 192 ( 2) Section. 3 AktG. The remaining shareholders are hereby not compensate the loss rate. It deteriorates the voting power of existing shareholders.

Vesting period

Because of the issue at a special rate employee shares are usually provided with a vesting period of five years within which they can not be sold. The Custodian shall comply with the embargo. Exceptions are made only for incapacity or death of the employee shareholder.

Furthermore, tax disadvantages are possible if the employee shares are sold within a specified period after the purchase again. For shares acquired before 1 April 2009, the now repealed § 19a Income Tax Act has to be considered. Then you have the monetary advantage which is obtained in a sale within six years, will be taxed in full in any case. The period of six years starting on 1 January of the year in which the shares were purchased. Also ( § 52 applies the harmful tax period of six years if the employee shares to be purchased until 1 January 2016 due to contracts concluded before 1 April 2009 agreement, which gives the employee a binding right to the respect of the shares at a preferential price para 35 Income Tax Act).