{"id":2269,"date":"2016-06-10T11:07:40","date_gmt":"2016-06-10T09:07:40","guid":{"rendered":"https:\/\/uxstudioteam.com\/website\/?p=2269"},"modified":"2022-05-19T14:34:55","modified_gmt":"2022-05-19T13:34:55","slug":"ux-studio-employee-owned-company","status":"publish","type":"post","link":"https:\/\/timemachine.uxstudioteam.com\/ux-blog\/ux-studio-employee-owned-company\/","title":{"rendered":"From today, UX studio is owned by its employees"},"content":{"rendered":"

\"shared_ltd_company\"<\/p>\n

Big day today. After introducing transparent salaries and finances<\/a> a few months ago, from today, finally I’m not the 100% owner of UX studio.<\/a><\/strong><\/p>\n

<\/p>\n

A\u00a07-month long project with our legal and accountant experts has\u00a0finished\u00a0and my\u00a0team members got their well-deserved shares onto their accounts. We invented a new equity sharing structure, that is more suitable for a service business than a start-up, and also fits to our unique community. It’s a dynamic system where everyone get more and more shares as they spend more time in the company. Everyone get dividends at the end of the year and in case we sell the company everyone will get a fare share from the price too.<\/p>\n

The legal structure slowly but steadily followed the reality: now we own together what we have built together. Creating\u00a0this system wasn’t easy. We’ve spent many hours with paperwork. And before I explain things I want you to know I am not a legal expert personally (I hire some of the bests, though) and this is not legal advice. And everything that is written here is made under the Hungarian law.<\/p>\n

So if you come to work with us,\u00a0after the 3rd month you will get UX studio<\/a> shares. We don’t give options, but real shares that we transfer to your account. These shares are special, so-called employee shares. You get them for free, you can’t sell them, and if you leave the company they will fall back to us\u00a0automatically. So you have them while you work with us.<\/p>\n

There are two situations when our teammates can\u00a0benefit from the ownership. At the end of each\u00a0year the company can (and we will) pay dividends to the shareholders. So\u00a0our teammates get their normal salaries at the end of each month, but above that, they also get a\u00a0share from the company’s profit.\u00a0And if someone buys the company the price will be distributed also. We don’t really plan to sell the business, but who knows.<\/p>\n

We managed to create\u00a0a system, where the employee shares are distributed between the employees proportionately with\u00a0the square of the time they have spent at the company.<\/p>\n

Uhh, wait.\u00a0What? If you stay\u00a0at the company you will get more and more shares\u00a0as the time goes on. The square thing is a mathematical trick that rewards people who are loyal to the team. In this system the guys who have spent the most time in the team win big.<\/p>\n

From now we will decide together how much do we invest back from our profits, and how much do we pay ourselves\u00a0as dividend at the end of the year.<\/p>\n

Compared to the popular start-up method\u00a0we don’t have a one year cliff. So you can get shares (and dividend) before you reach the first year anniversary. On the other side you will lose these shares when you leave the company. We don’t have the 4 year vesting either.\u00a0You will get more and more shares by the time, which is similar, but it doesn’t stop at 4 years.<\/p>\n

To sum it up: our teammates will get moral and financial reward\u00a0for their hard work. The money we make are split up between the teammates, and doesn’t go to some unknown owners.\u00a0And from now, the legal structure is closer to what we feel: we build this thing together.<\/p>\n","protected":false},"excerpt":{"rendered":"

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