Klarna employees are in line for an unusual windfall after the Swedish fintech made its long-awaited debut on the New York Stock Exchange.
In an email seen by Business Insider, the buy now, pay later (BNPL) giant told staff it was bypassing the standard six-month lockup period that normally restricts insiders from selling.
The email said vested restricted stock units (RSUs) would be converted into tradable shares, giving employees holding such shares a chance to cash out just days after the company’s IPO.
Current employees will reportedly be able to sell shares until September 30, with trading windows then moving to a quarterly schedule. Former staff are also eligible.
Klarna listed at $40 per share on Wednesday, valuing it at around $15bn, well below its 2021 peak of $45.6bn. Shares jumped 30% at the open before retreating to close at $46, still 15% higher than their listing price.
The move will likely be welcomed by Klarna employees, who have seen the value of their equity fluctuate wildly through the fintech’s rocky path to the public markets.
Stock-based compensation remains a crucial tool for European startups competing for talent, but payouts often hinge on liquidity events like IPOs or acquisitions.
As the company debuted on the NYSE, Sifted revealed how Klarna had made more than 40 employees millionaires following the float.
