Licious provides a new ESOP plan with anytime liquidity for the employees.
- ByStartupStory | November 24, 2021
For the recently turned unicorn, licious , a subsidiary of Delightful Gourmet Pvt Ltd, there has been a significant change in the employee compensation plan, which involves a new ESOP plans to nearly 1000+ employees christened ‘Everyday Vesting, Anytime Liquidation’, starting next year.
“Starting 1st Jan 2022, all eligible Licians (employees at Licious) will have their ESOPs vested daily,” the company said, which gained its position as one of the pioneers of the plan in the Indian startup ecosystem.
The meat and seafood delivery firm, which became the first direct-to-consumer (D2C) startup to achieve unicorn valuation ($1 billion) will set aside a pool of secondary funds every year, to enable the anytime liquidation.
Employees have the option to liquidate their ESOP’s once the one-year period, as mandated by company law, is over. “Furthermore, all new Licians who receive ESOPs will be added to the pool. All Licians will be actively guided about this opportunity so that they can take complete advantage of this novel initiative,.”carried a firm executive.
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