Unacademy revamps ESOP policy
- Moves to monthly vesting of ESOPs from the current annual vesting.
- ESOPs to vest over 48 months; first vesting event post-1-year cliff, followed by 36 equated monthly vesting of remaining options.
Unacademy India's largest 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 1-year cliff period. After the completion of the cliff period, 25% 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.
"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." said Tina Balachandran, Senior Vice President- Talent and Culture, Unacademy.
Unacademy has conducted 3 ESOP buybacks to date, viz. September 2019, December 2020, and September 2021.