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FarEye Rolls Out ESOP Liquidity Program To Reward Employees

FarEye Rolls Out ESOP Liquidity Program To Reward Employees

FarEye, a logistics management platform, has announced an Employee Stock Ownership Plan (ESOP) liquidation program for its employees. This is the first time that the company has offered liquidation of ESOPs.

 

Under the scheme, eligible employees can liquidate up to 35 per cent of their vested ESOP shares, the company said in a statement. FarEye has announced the distribution of USD 739,000 to liquidate eligible ESOP options under this program.

 

Commenting on the program, Kushal Nahata, CEO, FarEye said,“The liquidation program is a reciprocation for the hard work of our employees.  It is a small way of saying Thank you to the team as they have been working day in and day out from their homes. We announced this liquidation to make employees partners in our success and to ensure they are able to create wealth for themselves and their families. The team has been able to generate significant liquidity for themselves, which gives us immense happiness & satisfaction. We are looking forward to expanding our team with exceptional talent in 2021 and will continue to roll-out programs with similar benefits.”

 

FarEye works with enterprises to provide an end to end logistics management platform. Its technology platform ​enables enterprises to orchestrate, track, and optimise the movement of goods and adds the much-needed visibility in a typical farm to fork journey.

 

Last year, FarEye raised USD 37.5 million in Series D funding to expand its intelligent logistics management platform used by DHL, Walmart, Amway, and many other Fortune 500 companies. This is the second time within the last year that FarEye raised funds, making it a total of USD 50 million in investment so far.

 

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