Alba is a critical part of the company’s future, says The Honest Co.as it went public on Wednesday. Here is everything you should know about the Hollywood star’s contribution and earnings from The Honest Company that predominantly sells diapers, baby, and skincare along with bath and beauty products.
The Honest Co went public this Wednesday and raised approximately $413 million in IPO. The firm operated under the ticker name HNST opened strong in NASDAQ and closed at a share price of $23 after growing 40%.
Jessica Alba, who has been the face of the company, has also earned an honest sum of money and is all set to receive the perks of working as an Honest Co employee.
Alba holds around $5.6 million shares out of the $1.4 billion, $1.4 million in stock options that will become exercisable soon and will value approximately $130 million.
The Hollywood star is also set to receive a whopping $2.6 million in dividend. Alba will also be joining as an employee of Honest Co and will be signed in to receive a basic salary of $700,000 in 2022 and other perks such as annual restricted stock of $1.5 million, which is said to raise $3 million by 2024.
The company told its potential investors that “we believe that the success of our brand depends in part on our ongoing affiliation with Jessica Alba.”
The company strongly believes in the 39 million followers of Jessica Alba, who are ready to take the product to the next level.