Home Startups Porter offers second ESOP liquidation worth Rs 50 Cr

Porter offers second ESOP liquidation worth Rs 50 Cr

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on demand logistics company porter Provides current and former employee settlement of ESOPs (Employee Stock Ownership Plan) worth Rs 50 crore.

All employees with eligible options are eligible to take advantage of the program, according to the release. An employee (current and former) can sell eligible options immediately, up to a total of Rs.

According to the company, this liquidation is intended to encourage valuable contributions by providing wealth-creating opportunities for Porter’s talents.

“This ESOP round is a testament to Porter’s appreciation and appreciation for the significant efforts of current and former employees to build the company,” said Pankaj Shroff, Porter’s CFO.

Last year, the company announced its first-ever Employee Stock Ownership Plan (ESOP) monetization program worth $5 million to eligible current and former employees.

“We have announced the first-ever ESOP liquidation worth Rs 400 crore ($5 million) in 2021, benefiting many stakeholders,” said Rizwan, vice president of human resources at Porter. Khan says.

“By enabling the liquidation of the ESOP for the second year in a row, we hope to provide a unique opportunity for current and former employees to make faster investment and cash flow decisions. It’s one way: we respect our employees and make sure their contributions are fully recognized,” he added.

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