Porter, India’s leading tech-based, on-demand, logistics company has announced to offer liquidation of ESOPs (Employee Stock Ownership Plan) worth INR 50 crores for its current and former employees. This liquidation aims to encourage Porter’s talent for their valuable contributions by providing them with wealth-creation opportunities.
As a part of this program, all the employees with eligible options are qualified to avail of this plan/ program. The employees (current and former) will be able to sell the eligible options immediately at a 50% higher value from the last liquidation valuation up to a total value of INR 50 crores.
Pankaj Shroff, CFO, Porter said, “This round of ESOP is yet another testimony of Porter’s gratitude and appreciation for the significant endeavours of our current and former employees in building the company. We aim to incentivize our employees keeping in mind their growth and well-being including financial growth.”
“We announced our first-ever ESOPs liquidation worth INR 40 Crore ($5 Million) in 2021 benefiting many of our stakeholders. Our employees are one of the main drivers of success at Porter and their growth is of utmost priority to us. By enabling an ESOP liquidation for the second consecutive year, we wish to provide a unique opportunity for our current and ex-employees to decide on their investments and cash flows at a much faster rate. This ESOPs scheme is one of the ways to reward our employees and ensure that their contributions are valued substantially,” said Rizwan Khan, VP - Human Resources, Porter.