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D2C unicorn Licious has introduced an “Everyday Vesting, Anytime Liquidation” ESOP plan under which all ESOPs will be vested daily, and employees will have the option to liquidate ESOPs anytime, starting from January 1, 2022.
The company will set aside a pool of secondary funds every year to enable the anytime liquidation. However, this opportunity will be available to the employees only after one year is over, as mandated by company law.
To benefit over 1,000 staff
This new ESOP plan is said to benefit over 1,000 Licious employees who currently own ESOPs. Furthermore, all new employees who receive ESOPs will be added to the pool. Licious is now a 3,500+ members strong team, and its ESOPs programme benefits employees across functions, including processing centre staff, delivery boys, and corporate employees. Earlier this year, the company also extended a buyback option worth ₹30 crores.
Commenting on the announcement, Vivek Gupta and Abhay Hanjura, co-founders, Licious said, “The pandemic has taught us many lessons, and one among those is to keep your people closest to the organization and reward them for their hard work and contribution. At Licious, we have been recording unprecedented growth and that too in a highly unorganized market. Our employees’ contribution in this growth trajectory has been enormous and incentivizing them well is among our priorities. We are conscious of helping Licians (Licious employees) meet their personal and financial goals through wealth creation as we organize the market, and making vesting and buying ESOPs daily, signifies the same.”
Founded by Abhay Hanjura and Vivek Gupta, Licious is a D2C brand in raw and fresh meat and seafood, marinades and ready-to-eat categories. In the past six years, Licious claims to have served over three million packs of meat products to consumers across 14 Indian cities including, Bangalore, Hyderabad, NCR, Chandigarh, Mumbai, Pune, Chennai, Coimbatore, Jaipur, Kochi, Vizag, Vijayawada and Kolkata. Licious serves over 1 million orders every month with over 90 per cent repeat consumption across markets.
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