Report: Lido Sold Nearly $20M in Equity to Employees in Q3

A group of 35 employees at Lido Advisors bought nearly $20M in company equity in the third quarter, CEO Jazon Ozur told Citywire.

The share sale took place as part of the Los Angeles-based firm’s employee program offering equity opportunities for senior employees in lieu of cash compensation. Ozur said the equity plan began in 2016 or 2017 and has resulted in approximately 110 of Lido’s 270 employees accounting for 45-50% ownership of the company, resulting in what the CEO describes as a “much deeper sense of ownership for the employees” due to an inclusive shared business interest. 

The recent equity purchases were reportedly made by employees at the company’s share price as of June 30, in the same class as those held by founders and external shareholders such as private equity firm Charlesbank Capital Partners, which has been a Lido investor since March 2021. 

Source: https://citywire.com/ria/news/lido-sells-20m-in-equity-to-employees/a2453675