Talking Drupal #390 - Employee Owned Companies
Talking Drupal
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Employee Ownership of a Company
Lullaboth is what's called an ESOP, and I'm happy to go as deep or as shallow as you want on that. On January 1st of 2021, the former owners, which also included stock options that were held by employees, minority owners, Matt and Jeff's remaining ownership, all of that stock was sold to the company. And then the company turned around and sold that stock to a trust, which holds the stock on behalf of the employees who are the beneficiaries of that trust. That protects them from tax liability related to their ownership.
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