Learning platform Unacademy revamps ESOP policy

The revised policy will allow ESOPs to be vested on a monthly basis post a one-year cliff period

FPJ Web DeskUpdated: Tuesday, May 24, 2022, 12:16 PM IST
article-image
Unacademy has conducted 3 ESOP buybacks till date, viz. September 2019, December 2020, and September 2021. /Representative image |

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.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Maharashtra: SC hearing on plea filed by rebel MLAs begins

Maharashtra: SC hearing on plea filed by rebel MLAs begins

'He won't lead India again': Childhood coach Rajkumar Sharma on Virat Kohli replacing Rohit Sharma...

'He won't lead India again': Childhood coach Rajkumar Sharma on Virat Kohli replacing Rohit Sharma...

ED questions Jacqueline Fernandez in conman Sukesh Chandrashekhar case

ED questions Jacqueline Fernandez in conman Sukesh Chandrashekhar case

Sidhu Moosewala murder: Lawrence Bishnoi's father tells SC he's 'not getting legal assistance'

Sidhu Moosewala murder: Lawrence Bishnoi's father tells SC he's 'not getting legal assistance'

Mumbai: Latest Updates - Week-old flyover in Borivali starts crumbling

Mumbai: Latest Updates - Week-old flyover in Borivali starts crumbling