ShareChat Adds $14 Million To ESOP Pool

Indian social media platform ShareChat on Wednesday said it has expanded ESOP pool by $14 million to $35 million to reward its employees. The company has also announced a 50 per cent bonus for the existing employees holding ESOPs in the company. “This ESOP scheme has also been extended to every employee on payroll, including administrative staff. The decision was taken to recognise their hard work behind the incredible growth achieved by both ShareChat and recently launched short video platform, Moj,” a statement said. More than 300 employees on the company’s payroll as of June 30, 2020, have been the beneficiary of the company’s ESOP grant scheme. The company said existing employees who already hold stock options have been given 50 per cent additional ESOPs as bonus. ShareChat offers ESOPs to its qualified employees, equally vested over four years. When an employee with ESOPs leaves the organisation, the person leaves with the vesting percentage and continues to enjoy the benefit of owning it as ESOPs without any defined timelines, the statement said.