Oyo sends letter to staff stating it's making all employees shareholders
Oyo has sent off a letter to employees stating they have decided to make every employee a co-owner and shareholder of the company by granting them ‘deeply discounted ESOPS.
The letter stated "As part of the communication by Ritesh, we have decided to make every Oyopreneur a co owner and shareholder of the company. You are receiving deeply discounted ESOPS (comparable to RSUs and referred as the RSUs) meaning that an option is given enabling you to buy the stock of the company at a deeply discounted pre determined price. These RSUs will have a strike price of Rs 10 per option. As part of the commitment, vesting would continue even if you leave your employment with Oyo which enables you to become a co owner."