Unacademy, learning platform, has redesigned its ESOPs policy in order to allow employees to derive greater benefits.
The revised policy will allow ESOPs to be vested on a monthly basis post a one-year cliff period. After the completion of the cliff period, 25 percent of the options will be vested. Thereafter, the remaining options will vest monthly over the next 3 years. This is applicable to ESOPs granted after April 15, 2022, it said in a statement.
Tina Balachandran, Senior Vice President- Talent and Culture, Unacademy, said, “At Unacademy, we want to build an organization that is powered by a culture of growth, while being highly employee-centric in people practices. Many of our policies such as TSOPs for Educators are industry benchmarks for being progressive and inclusive.
"With the revised ESOPs policy, we aim to build a workplace that is loved by every employee, and which helps create wealth for everyone who has contributed to the growth and success of the company,” Balachandran said.
Unacademy has conducted 3 ESOP buybacks till date, viz. September 2019, December 2020, and September 2021.