The Government is to launch a public consultation on share-based remuneration. Finance Minister Michael McGrath made the announcement in Budget 2024, stating that the consultation would be launched “shortly” and was in response to “the increasing importance that business places on share based remuneration in rewarding and retaining employees and the continued globalisation of the workforce”.
The Government is seeking views and proposals from all stakeholders as part of the consultation process. IPSA will be making a submission and encourages our members to do the same.
Elsewhere in Budget 2024, there was confirmation that the Government has secured EU State aid approval to commence the outstanding 2022 amendments to the Key Employee Engagement Programme (KEEP).
The amendments, which are due to be commenced by Ministerial Order soon, are designed to improve the attractiveness of KEEP, which is aimed improving the ability of start-up and SMEs to attract and retain talent.
They include the extension of the scheme to the end of 2025 and a doubling of limit for the total market value of issued but unexercised qualifying share options from €3m to €6m.