Thursday, 5 December 2019

Questions (82)

Michael McGrath

Question:

82. Deputy Michael McGrath asked the Minister for Finance the take-up of the key employee engagement programme in each month since its establishment; the number of companies that availed of the scheme in each of the years by multinational and SME companies; and if he will make a statement on the matter. [51039/19]

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Written answers (Question to Finance)

I am advised by Revenue that 10 companies granted share options qualifying for the Key Employee Engagement Programme (KEEP) to 87 key employees during 2018 (the first year of the scheme). I understand that a breakdown by month is not possible.

Generally, a key employee must hold the option for 12 months prior to exercise and therefore 2019 will be the earliest date that individuals are likely to exercise their options to acquire shares in the qualifying companies. Returns for 2019 will not be filed with Revenue until 2020. KEEP is only available to SMEs, so a breakdown in respect of multinational and SME companies is not applicable.