Uber’s earliest employees stand to cash in big when the company goes public. In the meantime, their wealth is largely on paper. To keep these employees around, Uber is offering them a way to access their reserves.
Roughly 200 employees are eligible for a stock buyback program, wherein Uber repurchases their shares, according to Bloomberg. For those select few, Uber is willing to take no more than 10% of their shares in exchange for cash. Naturally this arrangement benefits Uber too. In its next funding round it can offer up those shares for a handsome sum. Read the full article here.RR