First $19.1M ESOP Buyback Plan Announced By Sharechat For Existing And Former Employees
- ByStartupStory | June 18, 2021
First ESOP buyback plan announced by Sharechat. Buyback of up to $19.1 million worth of vested stock options held by both its existing and former employees. ShareChat revealed changes that it had made to the ESOP policy in the past three months to make it more rewarding. The changes included reducing the price to exercise a stock option to Re 1, as well as vested stock options of former employees remaining valid with no expiry time constraint.
Ankush Sachdeva, Co-founder and CEO, of ShareChat and Moj said, regarding the first ESOP buyback plan announced by Sharechat,”In the 6 years of building ShareChat and Moj, we have had many significant milestones but the one I am sharing today is the most satisfying of them all… It gives me immense joy to see a lot of us who joined very early, being rewarded handsomely for the risk they took by joining a young startup.”
the startup also added to the announcement that they will “continue to do such buybacks in the future”,
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