Pocket FM completes first ever Esop buyback worth $8.3 million

Online audio streaming platform Pocket FM on Monday announced the completion of its first employee stock option plan (Esop) buyback worth $8.3 million (about Rs 69 crore). The buyback was open to both former and current employees holding vested Esops in the Bengaluru-based firm.

Pocket FM currently has about 800 employees and a four-year vesting period, under which 25% of Esops are vested in the first year, after which they vest at a monthly rate.