The founder of hydrogen fuel cell and battery electric truck maker start up Nikola, Trevor Milton has announced he will be divvying up close to six million shares from his personal holdings and giving them to employees who took a chance on the company joined and joined it in the early foundation years of the zero emission truck company.
“When we first started this company out of my basement our chances of success were pretty low,” said Milton.
“I promised those initial, daring employees that I would take care of them one day. Today, I make good on that promise and deliver over six million shares to the original employees who took the job and risked their careers on a long-shot idea. They earned it and have helped me become who I am today. I am forever grateful,” Milton added.
Milton will reward those employees with 6,005,162 shares without diluting the company, as part of an option award made in December 2017. The shares are locked up until 30th November. At current market value Nikola shares are trading around $AUD55 on the NASDAQ, making the shares being given to Nikola workers worth somewhere around $AUD334 million ( $US246 million).