Meesho introduces annual ESOP programme
Digital commerce platform Meesho on Friday said it has introduced an annual 'MeeSOP' programme, wherein every full-time employee will be able to convert upto 25 per cent of their annual CTC into ESOPs .
Digital commerce platform Meesho on Friday said it has introduced an annual 'MeeSOP' programme, wherein every full-time employee will be able to convert upto 25 per cent of their annual CTC into ESOPs (Employee Stock Ownership Plan).
Under the programme, every full-time employee - irrespective of their tenure in the company or their seniority will be able to convert a maximum of 25 per cent of their annual CTC into ESOPs - subject to a minimum of Rs 50,000, a statement said.
“Our repeated and periodic buybacks ensure our employees continue to grow with us. The MeeSOP program takes this commitment further, breaking hierarchies to make every employee an owner, and providing more avenues for wealth creation," Meesho founder and CEO Vidit Aatrey said.
EPFO extends deadline to upload details by employers for higher pension option by 3-month till Dec 31
Guaranteed Pension System (GPS) vs Old Pension Scheme (OPS): Which pension scheme offers maximum retirement benefits?
NPS vs APY: Can I have an account in the National Pension Scheme and Atal Pension Yojana at the same time?
As the company hires more talent, it will continue to provide its team with the means to realise their personal and financial goals, he said.
See Zee Business Live TV Streaming Below:
Unlike traditional ESOP plans, the MeeSOP programme is completely inclusive, providing every employee, irrespective of their seniority, to benefit from Meesho's rapid growth while ensuring 100 per cent of the grant is vested by the end of one year, the statement said.
This provides both opportunities and control to opting employees and helps them cash in on Meesho's frequent ESOP liquidation programmes, it added.
In October this year, Meesho had announced a USD 5.5 million ESOP liquidity programme for all eligible current and former employees with vested stocks - its second liquidity programme in less than a year. At that time, the company had nearly 1,200 full-time employees.
In November last year, the company had announced a USD 5 million ESOP dilution programme.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
Small savings schemes: Five-year recurring deposit will make more money for you in December quarter; this is the new interest rate
Plaza Wires IPO hits Street: Issue price, subscription status, listing date, other key details to know
Kerala Weather Update: Heavy rain lashes parts of Thiruvananthapuram, IMD sounds yellow alert in all districts
Flipkart Big Billion Days Sale 2023: iPhone, Google Pixel, Samsung Galaxy, and Motorola; best phones under Rs 60K-Rs 1.5 lakh category
Flipkart Big Billion Days Sale 2023: Samsung, Redmi, Realme, Poco and more; best phones under Rs 15,000