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Photo illustration: Axios Visuals

Airbnb is rolling out new equity grants and a cash bonus program to appease employees' impatience over the company's long-awaited IPO, which could be as soon as June 30, 2019, a source tells Axios.

Why it matters: Startups have benefitted from the plentiful availability of late-stage capital to remain private longer. The downside is that long-time employees become restless, especially if they have few opportunities to sell their stock.

The Information first reported Airbnb's compensation news.

In February, Airbnb CEO Brian Chesky made clear that the company will not go public this year, on the same day he announced the departure of finance chief Laurence Tosi. The company's recent moves, such as adding an independent board director and announcing an annual stakeholder report, further fueled rumors it was on the verge of making the jump.

Employee compensation changes:

  • The company will dole out cash bonuses based on company performance this year and in 2019.
  • New equity grants will now start vesting quarterly instead of the traditional one-year cliff.
  • Employees will also have the option to take some of their new equity grants in the form of cash instead.

But, but, but: Airbnb still needs to fill crucial executive positions, including chief financial officer, before it can go public. The company aims to go public by late 2020 at the latest, which is when some equity grants expire.

Go deeper

2 hours ago - World

UN Security Council meeting on Israel-Gaza as fighting enters 7th day

Smoke billows from a fire following Israeli airstrikes on multiple targets in Gaza on May 16. Photo: Mohammed Abed/AFP via Getty Images

The United Nations Security Council was preparing to meet Sunday, as the aerial bombardment between Israel and Hamas between entered a seventh day.

The latest: Four Palestinians died in airstrikes early Sunday, as Israeli forces bombed the home of Gaza's Hamas chief, Yehya al-Sinwar, per Reuters.

7 hours ago - World

In photos: Protests in U.S., across the world over Israeli–Palestinian conflict

A protest march in support of Palestinians near the Washington monument in Washington, D.C. on May 15. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

Thousands of people rallied across the U.S. and the world Saturday following days of violence in Gaza and Israel that's killed at least 145 Palestinians, including 41 children, and eight Israelis, per AP.

The big picture: Most demonstrations were in support of Palestinians. There were tense scenes between pro-Israeli government protesters and pro-Palestinian demonstrators in Winnipeg, Canada, and Leipzig, Germany, but no arrests were made, CBS News and DW.com report.

Updated 15 hours ago - World

Biden in call with Netanyahu raises concerns about civilian casualties in Gaza

Photo: Ahmad Gharabli/Nicholas Kamm/Getty Images

President Biden spoke to Israeli Prime Minister Benjamin Netanyahu Saturday and raised concerns about civilian casualties in Gaza and the bombing of the building that housed AP and other media offices, according to Israeli officials.

The big picture: At least 140 Palestinians, including dozens of children, have been killed in Gaza since fighting between Israel and Hamas began Monday, according to Palestinian health officials. Nine people, including two children, have been killed by Hamas rockets in Israel.