A “Special” Employee Stock Ownership Plan has been introduced

The provisions creating the legal framework of the Special Employee Stock Ownership Plan (“Special ESOP”) entered into force on 13 July 2021, providing a new special ownership opportunity for employees or board members of limited companies to acquire stocks at a more favourable rate than before. The Special ESOP is based on certain general provisions of an employee stock ownership plan, however, it offers a special, more favourable opportunity to employees, members of the supervisory board or the board of directors / managing directors of a joint stock company or limited liability company to acquire the company’s shares or stocks.


Special ESOP may be established upon request of its employees with the launch of the plan, at the inaugural general assembly with at least ten participants, by the adoption of the statutes and the election of a body responsible for the operational management of the Special ESOP and the managing directors. Employees, simultaneously to the establishment of a Special ESOP, may create an asset managing foundation as well.


The number of the participants of the Special ESOP cannot be increased after its establishment, and as a principle, a membership cannot be terminated (with the exception of the transfer). In case of a Special ESOP, the membership may be inherited. The plan may be operated for an at least ten year-long limited period, after which the assets acquired by the implementing entity or their equivalent value must be transferred to the participants and the implementing entity must be dissolved.