FTX Trading gets court approval of key employee retention plan

By Sarah Lizee

Olympia, Wash., March 28 – FTX Trading Ltd. received approval of a key employee retention plan from the U.S. Bankruptcy Court for the Southern District of Delaware, according to an order filed Monday.

The total value of the plan is $4.03 million. Of the aggregate retention pool, $1.42 million has been allocated to 10 identified employees, and $2.11 million has been tentatively allocated to roles that are expected to be required to serve critical administrative, settlement, business development, compliance, support, core product and data functions.

The remaining $500,000 has not been allocated at this time and is intended to enable the debtors to efficiently address emerging retention needs as the case progresses.

FTX has headquarters in the Bahamas. The company filed Chapter 11 bankruptcy on Nov. 11 under case number 22-11068.

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