By | Jaspreet Kaur | inc42.com
Urban Company has received board approval for the first tranche of INR 75 Cr worth of stocks, to be disbursed over the next 3-4 years
The startup also offers a safety net to its partners in the form of insurance and access to financial support
It will set up an evergreen trust to manage the PSOP plan, and award them at near zero cost to service partners
Gurugram-based hyperlocal services provider, Urban Company has announced a Partner Stock Ownership Plan (PSOP) for its service providers. Under this plan, the company will award stocks worth INR 150 Cr to thousands of service partners over the next 5-7 years.
According to its statement, Urban Company will set up an evergreen trust to manage the PSOP plan, and award them at near zero cost to service partners. It has already got board approval for the first tranche of INR 75 Cr worth of stocks, to be disbursed over the next 3-4 years.
