ESOPs thus granted, could be better than 100% of the CTC relinquished, the corporate stated in an announcement on Friday.
“Our repeated and periodic buybacks guarantee our staff proceed to develop with us,” stated Vidit Aatrey, founder and chief govt officer at Meesho. “The MeeSOP programme takes this dedication additional, breaking hierarchies to make each worker an proprietor, and offering extra avenues for wealth creation. As we rent extra expertise, we’ll proceed to supply our crew with the means to grasp their private and monetary objectives with us.”
In contrast to conventional ESOP plans, the MeeSOP programme is totally inclusive, offering each worker—no matter their seniority—to profit from Meesho’s speedy progress whereas making certain 100% of the grant is vested by the tip of 1 yr. This offers alternatives and management to opting staff and helps them money in on Meesho’s frequent ESOP liquidation programmes.
In October,
Meesho announced a $5.5 million ESOP liquidity programme for all eligible present and former staff with vested shares—its second liquidity programme in lower than a yr.