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Acko Completes Its First ESOP Liquidity Program

Acko Completes Its First ESOP Liquidity Program

Insurtech start-up, Acko has completed its first employee stock (ESOP) liquidity program worth $2 Million (Rs 15.07 crore).

 

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

 

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

 

Employees who completed three years with the firm 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.

 

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

 

Ruchi Deepak, Co-founder, Acko stated "We have completed 3 years of operations with one year of pandemic uncertainty. Throughout this period, our people remained our pillar of strength.  Some of them had joined even before the company received its license. The company is humbled by this unwavering trust and it was time for us to deliver on their sentiments including the value that they have created by building Acko."

 

"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. Employee’s growth should be directly proportional to the company’s growth and should be real and not just on paper", she further stated.

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