Swiggy Announces $65 Million ESOP Liquidity Program
Jul 15, 2024 17:34
Swiggy announces its fifth ESOP liquidity program, offering employees up to $65 million in liquidity, marking the company's commitment to sharing its success.
New Delhi, Jul 15 (PTI) On-demand convenience platform Swiggy on Monday said it has announced its fifth ESOP liquidity programme giving options to employees across levels and functions to receive liquidity of up to USD 65 million (over Rs 540 crore).
This is the fifth liquidity event for Swiggy since 2018, and the third consecutive event after July 2022 and 2023, the company said in a statement.
"So far, the company has cumulatively enabled over Rs 1,000 crore of ESOPs liquidity over the five events, benefitting over 3,200 employees," it said.
Girish Menon, Swiggy Head of HR, said the latest ESOP (Employee Stock Ownership Plan) event is an acknowledgement of the contributions of the employees and the company's commitment to sharing its success and growth with them as Swiggy approaches the milestone of a decade of operations.
"Employees owning shares of their company creates alignment of incentives and a sharp focus on collaborative excellence, which is a virtuous cycle that we believe in and espouse," Menon said.
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