Bolt has an equity-settled share option program aimed at motivating employees by improving economic results through their efforts, while also allowing them to benefit from the increase in value of the shares resulting from their work.

Bolt has not yet published its 2023 financial results, but according to the 2022 report, they had 1.9 million options. The weighted average fair value of the options on their grant date in 2022 was €89.27, totaling a value of €171.3 million. The year before, the value per option was €85.46.

In March last year, ERR reported that Sandra Särav, deputy secretary general of the Ministry of Economic Affairs and Communications, did not declare the company options she retained from her time working at Bolt in her economic interests declaration.

The issue resurfaced last week when the publication Euractive reported that Bolt engaged in aggressive lobbying towards the Ministry of Economic Affairs and Communications (MKM), with some of the communications going through Särav.

Last Wednesday, Särav described the Bolt options still in her possession as worthless in an interview given to ERR.

Last week, a Bolt representative told ERR that the real value of the options would be clear if they go public, but currently, it is hypothetical. The company confirmed that most of their employees have received options as part of their compensation package.

As of the end of 2022, Bolt group comprised 59 companies. Revenue increased by 152 percent to €1.26 billion from the previous year.

As of the end of 2022, Bolt operated in more than 40 countries and over 500 cities, primarily in Europe, the Middle East and Africa, with a workforce of 4,126 employees.

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