There are countries, like Denmark, that explicitly discourage entrepreneurs from giving shares to employees, as their tax laws impose an additional 25% tax on any shareholder in possession of less than 10% of a company. In case of an exit, a stock-owning employee would owe the Danish government around 67% of what he’d made by investing his blood, sweat, and tears into building a successful startup.
Pinligt, ødelæggende og skandaløst kortsigtet, at to danske regeringer i træk ikke fjerner denne hæmoride på den danske vækst.