Reins announces the public launch of its MARE (Modern Agreement for Rewards and Equity) program. This instrument, alongside the cutting-edge Reins platform, is designed to help small business owners keep their key employees engaged and invested in the long-term growth of the business, according to the company.
Founded by Chris Buttenham, along with co-founders Alex Sopinka and Sarah Khuwaja, Reins addresses a common challenge faced by small businesses: how to offer meaningful incentives and rewards to their key employees. The founders identified the need for a simple-yet-effective way for small business owners, particularly those operating as LLCs and S corporations, to offer stock options and profit-sharing plans along with a potential path to succession.
“Our mission at Reins is to support small business owners by providing them with tools to retain their key employees,” said Chris Buttenham, cofounder of Reins. “Our solution offers hope to millions of small business owners looking for ways to offer competitive compensation plans to incentivize key employees. With our Modern Agreement for Rewards and Equity program, we’re making it easier for these businesses to offer equity and profit-sharing incentives that align their employees’ interests.”
Implementing an equity and profit-sharing program through the MARE not only incentivizes key employees but also paves the way for smooth succession planning. By offering a stake in the company’s success, employees are more deeply invested in the long-term growth and stability of the company. This fosters loyalty, enhances performance and prepares key employees to take on greater leadership roles in the future.
The MARE allows small business owners to share a percentage of net profits and offer long-term incentives akin to equity in the company. The platform simplifies the process of creating, customizing and executing equity agreements that are 409a compliant out-of-the-box, and regularly monitors for legislative and regulatory changes. The program was built by attorneys and is customizable and legally binding.
Owners can create custom equity agreements and seamlessly manage and sign all documents electronically. The app includes a robust vesting schedule tracker and a communication portal that keeps employees informed about their equity status and milestones.
“Ninety-nine percent of American businesses are small businesses, and they employ 46% of all private sector employees,” said Buttenham. “Our goal is to make a real impact by helping these businesses thrive and grow and keep their key employees. Our solution takes minutes and manages that plan for a fraction of the cost of an attorney”
For more information about Reins and the MARE program, please visit https://myreins.com/.
