Tag: Shadowfax ESOP Buyback Plan

Shadowfax Rolls Out $5 Million ESOP Buyback Plan

Shadowfax Rolls Out $5 Million ESOP Buyback Plan

News, Technology
Mumbai, Dec. 08, 2020: Shadowfax Technologies, an integrated 3PL services provider, today announced an employee stock ownership plan (ESOP) buyback program for its employees. The total value of the ESOP buyback program is estimated at $5 million and aimed at rewarding its employees as the business recovers to pre-Covid levels. This is the first buyback offering by the company where eligible employees can sell up to 35% of their assigned/vested ESOP shares. Shadowfax employees who have been granted ESOPs and completed more than four years with the company will be eligible to participate in the buyback program. In addition to this initiative, Shadowfax has also announced the appointment of Praharsh Chandra and Gaurav Jaithliya as co-founders, effective December 2020. This move is ...