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Updated on: Tuesday, November 23, 2021, 03:23 PM IST

Licious introduces 'Everyday Vesting, Anytime Liquidation' ESOP plan

The “Everyday Vesting, Anytime Liquidation” ESOP plan will benefit over 1000 Licians who currently own ESOP |

The “Everyday Vesting, Anytime Liquidation” ESOP plan will benefit over 1000 Licians who currently own ESOP |

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Licious, D2C Unicorn has introduced a daily ESOP liquidation. Here's how it works:

Starting January 1, 2022, all Licians-eligible employees at Licious, will have their ESOPs vested daily. They will also have the option of anytime liquidation of ESOPs; no terms and conditions being associated with the liquidation. This opportunity can be availed once the one-year period, as mandated by company law, is over.

The company will set aside a pool of secondary funds every year, to enable the anytime liquidation.

The “Everyday Vesting, Anytime Liquidation” ESOP plan will benefit over 1000 Licians who currently own ESOPs and are appreciated for their contribution and faith demonstrated in the company. Furthermore, all new Licians who receive ESOPs will be added to the pool. All Licians will be actively guided about this opportunity so that they can take complete advantage of this novel initiative, the company said in a press release.

Vivek Gupta & Abhay Hanjura, Co-Founders, Licious, said: “The pandemic has taught us many lessons, and one among those is to keep your people closest to the organization and reward them for their hard work and contribution. At Licious, we have been recording unprecedented growth and that too in a highly unorganized market. This new initiative will not only build complete transparency but give Licians 100 percent control over their vested ESOPs.”

Earlier this year, the company also extended a buyback option worth Rs 30 crore for the employees.

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Published on: Tuesday, November 23, 2021, 03:23 PM IST
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