Mintos compensation system consists of two parts
- At Mintos, each role fits into one of seven professional levels: junior, specialist, senior specialist, team lead, lead, head of function, or C-level. Within each level, there are three maturity sublevels—base, advanced, and high growth—that indicate progression within the level
- Salary bands are set for each level, ensuring that everyone within the same level is compensated within the same range
- Mintos has two review cycles: Spring and Autumn. The Spring review focuses on promotions, while the Autumn review includes salary band reviews to keep up with our commitment to pay top 25% of the market
- Stock options are a form of long-term compensation, in contrast to salary, which is short-term compensation paid on a monthly basis. ESOs can be a very significant part of your compensation if we successfully grow the value of Mintos
- Employee stock options (ESO) allow you to become part-owners in Mintos. Team members can purchase shares in Mintos at a fixed price, with ownership gradually becoming available over a standard four-year period
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Mintos has a commitment to pay its people salaries that are within the top 25% range of the job market
- Joining Mintos you can choose your compensation package between three choices:
- Low cash & High equity
- Mid cash & Mid equity
- High cash & no equity
- Your choice can be made when joining Mintos and changed when changing positions or reaching a stage where you are offered ESO refresher (additional stock options) after 2 years of tenure with the company
- You can change cash choice to lower, gaining stock options in exchange
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The single most important thing any employee can do is add value to the company, which will add value to the equity. Most of the value you get is through the increase in the value of your equity as the company grows.
How to think about equity compensation?
- Stock options are a form of long-term compensation, in contrast to salary, which is short-term compensation paid on a monthly basis. ESOs can be a very significant part of your compensation if we successfully grow the value of Mintos
- Holding stock options doesn’t cost anything. When granting stock options, it gives the right, but not the obligation, to buy (exercise) a certain number of shares (granted amount) at a specified price (strike price) for a finite period of time (exercise period)
- After working at Mintos for one full year, you'll pass your 'cliff', which means you officially vest 25% of the share options offered to you. Over the next 36 months, you will vest an additional 1/48 each month. Therefore, at any point after the initial 12 months, whether you leave Mintos or Mintos sells, you can exercise your options and receive equity for the time you were here
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While you remain Mintos employee, you don't have to exercise stock options if you don't want to, and thus don't have to spend any money. You might want to exercise when you leave, in this case you will have 90 days from your leaving date to do that
Potential outcomes: how much is that worth?
Example: You hold 2'000 options. There are 12'500'000 Mintos shares issued and available, i.e. you have options for 0.016% of Mintos equity. The strike price for your options is EUR 3,94
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Mintos does not do as well:
- Mintos sells for EUR 250m
- You get EUR 250’000’000 * 0.00016 - 2'000 * 3.94 EUR = EUR 32'120
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Mintos does well:
- Mintos sells for EUR 500m
- You get EUR 500’000’000 * 0.00016 - 2'000 * 3.94 EUR = EUR 72'120
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Mintos does great:
- Mintos sells for EUR 1bln
- You get EUR 1’000’000’000 * 0.00016 - 2'000 * 3.94 EUR = EUR 152’120
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FAQ
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Employee stock options, or ESOs, are a type of benefit Mintos offers, over time rewarding you with potential company ownership. Unlike your regular salary, which you receive monthly, ESOs could become much more valuable if our company grows. They allow you to buy company shares in the future at a price set today. You're not obligated to buy them; it's just an option available for a set time.
Strike price is the set amount you'd pay to buy Mintos shares. For Mintos employees, the strike price is set at 60% of the full price. If Mintos's share price goes above your strike price, your options are valuable. If the share price is lower, they don't have immediate value, but you're not losing anything, and you don't have to buy them.
Vesting schedule is your timeline for earning company stock options and tells you when you can use your options to buy shares. At Mintos, this happens monthly across four years. There's a one-year cliff, meaning if you leave before your first year at Mintos ends, you don't have any options. After a year of signing the Share Option Agreement, you earn 25% of your options, then a bit more each month. Specifically, you'll earn 1/48th of your total options every month after the first year.
Exercise period is period can within you can decide to buy shares. ESO come with a 10-year. You've got a decade from the date you signed your stock option agreement to exercise them. After that, you won't be able to purchase the shares using those options. Make sure to check your agreement for the specific deadlines.
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To exercise your options means to pay the previously agreed-upon price (strike price) to purchase company shares. This is when your options become actual shares that you own, as outlined in your share option agreement. Remember, you can only do this with options that have become yours over time (vested options).
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You aren't required to exercise your options while you're with Mintos unless you choose to. Holding onto them is free. If you leave Mintos, you must decide within 90 days whether to exercise them or they'll lapse.
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Certainly! You're free to exercise your stock options whenever you like before the end of the exercise period. Just check your vesting schedule to see how many options you can turn into shares. While exercising your options early might mean you could get dividends as a shareholder, we don't expect to distribute dividends in the near future.
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Your vesting schedule will be paused for the total time you're on maternity, paternity, or additional leave that exceeds 14 days. This pause doesn't apply to other types of leave.
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You can use your vested stock options to buy shares or not it's up to you. Your stock option agreement will give you the details on how to do this. If you use your options, you'll become a shareholder in Mintos.
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Stock options are granted personally to the employee, and they are non-transferable. Your stock options are assigned to you personally and cannot be passed on to anyone else. However, if you've used your options to buy shares, these shares can indeed be transferred to your relatives.
Mintos' policies stipulate that company approval is needed for any actions with shares from exercised options. This condition remains until the termination of the ESO contract, typically by an IPO or comparable event.
About Mintos
Mintos is a leading European investment platform that enables individuals to build long-term wealth by investing in a unique combination of assets, such as loans, bonds, real estate, and more, all in one place.
Mintos is powered by an international team of 180+ professionals working across offices in Riga and Berlin. The company fosters a culture of collaboration, openness, innovation, and flat hierarchies - offering a dynamic, high-impact environment where every team member has the opportunity to grow and shape the future of investing.
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