Urban Company awards stock options worth Rs 5.2 crore to 500 gig workers

Urban Company said it has awarded stock options worth Rs 5.2 crore to about 500 of its ‘service partners’ — or gig workers — across India under its partner stock option plan (Psop).

When it announced the plan in March, the company said it aimed to award stock options worth Rs 150 crore to thousands of service partners over the next five to seven years. It also said it had received board approval for the first tranche of stock options worth Rs 75 crore, to be disbursed over the next three to four years.