AKCIJŲ KLASĖS IR DARBUOTOJŲ FINANSINIS DALYVAVIMAS LIETUVOJE
SHARE CLASSES AND EMPLOYEE FINANCIAL PARTICIPATION IN LITHUANIA

Summary/Abstract: The purpose of this article is to reveal and assess whether the regulation of preferred shares and the new regulation of redeemable shares could be used to solve the problems of financial participation of employees in the management of the company. The main problems when implementing sharing shares with employees include the formal requirements of the institute for granting the shares (Article 471 of the Law on Companies); setting the restrictions on the transfer or disposal of the rights granted by the shares including the restrictions on preferred shares; legal uncertainty when promising to grant the shares on a stock option basis; the liquidity of shares. After analysing the improved regulation of preferred shares, the conclusions were drawn that the regulation could be utilized for setting the scope of the restrictions and limitations of the shares granted to employees (compared with Article 471 of the Law on Companies) as well as may have an indirect impact in solving the problems of legal uncertainty and liquidity of the shares. While the new regulation of the redeemable shares could be used together with Article 471 of the Law on Companies, however does not solve the related problems. Nonetheless, the redeemable shares solve the liquidity of shares problem, as the companies are provided with a clear and convenient statutory tool to implement redemption of the shares which is attractive to investors or employees.

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