Acko gives employees USD 2 mn ESOP liquidity benefit

Some of them had joined even before the company received its licence. This liquidity is not linked to an external strategic or funding round, it is just an extension of the companys commitment towards wealth creation. Employees growth should be directly proportional to the companys growth and should be real and not just on paper, said Ruchi Deepak, Co-founder, Acko.

Digital insurer Acko on Tuesday announced completion of employee stock option (ESOP) liquidity programme worth USD 2 million (Rs 15.07 crore), allowing the stockholders to get a return on their stake.

Acko recently concluded its first employee stock (ESOP) liquidity programme worth USD 2 million, it said in a release.

The objective of this first liquidity event is to deliver a meaningful return to the organisation's early employees, it said.

The eligible employees were given the option to liquidate their vested ESOPs.

Employees who completed three years with the company as of December 31, 2020 were eligible to liquidate anywhere between 40 per cent to a full 100 per cent of their vested ESOPs, depending on their overall stock allocation, Acko said.

Former employees who had completed three years with the company were also eligible to participate in this program.

''We have completed three years of operations with one year of pandemic uncertainty. Throughout this period, our people remained... Some of them had joined even before the company received its licence. ''This liquidity is not linked to an external strategic or funding round, it is just an extension of the company's commitment towards wealth creation. Employees’ growth should be directly proportional to the company's growth and should be real and not just on paper,'' said Ruchi Deepak, Co-founder, Acko.