FarEye announces first ever Esop liquidity programme

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4 years ago

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Logistics administration platform FarEye has introduced an Esop liquidation programme for its employees. That is the primary time that the corporate has provided liquidation of Esops.

Beneath the scheme, eligible workers can liquidate as much as 35% of their vested Esop shares. The corporate has introduced the distribution of $739,000 to liquidate eligible Esop choices beneath this programme.

“2020 has been a troublesome 12 months for all of us. The liquidation programme is a reciprocation for the arduous work of our workers. We introduced this liquidation to make workers companions in our success and to make sure they can create wealth for themselves and their households. The group has been in a position to generate vital liquidity for themselves, which supplies us immense happiness and satisfaction,” Kushal Nahata, CEO, FarEye, instructed ET.

“With this programme, we will reward our most necessary asset – our workers. We’re trying ahead to increasing our group in 2021 and can proceed to roll out programmes with related advantages,” Nahata added.

Final 12 months, FarEye raised $37.5 million in Collection D funding to develop its clever logistics administration platform utilized by DHL, Walmart, Amway, and plenty of different Fortune 500 corporations. That is the second time inside the final 12 months that FarEye raised funds to help its progress in world markets, making it a complete of $50 million in funding thus far.

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