PhonePe announces ESOP buyback worth Rs 135 cr for employees

Digital payments platform PhonePe on Friday announced a buyback of employee stock options (ESOPs) worth Rs 135 crore. The buyback offer follows a three-tier model, based on seniority, a statement said.

The company’s founders will not be participating in the buyback, while the top leadership can sell up to 10 per cent of their vested stock, it added. All other current employees can sell up to 25 per cent of their vested stock.