FarEye announces second ESOP buyback Programme
News Synopsis
FarEye, the global SaaS platform, has announced liquidation for ESOP holders worth $1.22 million through buyback. The company aims to reward and recognise employees’ dedication and hard work in driving the company’s growth over the last year. This is the second and the largest buyback of the company.
The company will be hosting the buyback of vested ESOPs with its cash reserves. The company also launched ESOP in 2021 aiming to be more employee-friendly. The number of ESOP holders jumped more than 400% to more than 200 employees during 2021.
The company announced the distribution of $739,000 to liquidate eligible ESOP options. FarEye is also planning to increase its employee strength to more than 1,000 this year. The company has already attracted top industry leaders like Microsoft, Amazon and Dropbox to strengthen teams, enrich culture and build scalable products.
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