How do I know whether there will be an issue of new shares or delivery of existing shares?

There are two ways in which you can make shares available to employees: sale of existing shares by shareholders and issue of new shares.

This question actually asks as much as: are existing shares for the participations sold by one of the current shareholders to the employees, or does the company issue new shares that become available to the employees. The second (issue of new shares) is the most obvious. When new shares are issued, all shareholders “dilute” equally and you do not have to take into account who buys which shares. It is the easiest way for new entrants to the company. Sometimes an entrepreneur wishes to make use of a transfer of shares because the entrepreneur wants to sell a piece of his/her own shares (also called “liquidation”). With employee participation, delivery mainly takes place when the entrepreneur wants to sell the business to the employees. Issuance is mainly done at a company that is still growing and where the entrepreneur will remain active for the time being.