Shadowfax Offers $5 Mn ESOPs Buyback For Its Employees

Shadowfax Technologies, a third-party logistics services provider, announced an employee stock options plan (ESOP) buyback program for its employees.

The total value of the ESOP buyback program is estimated at $5 million and is aimed at rewarding its employees as the business recovers to pre-Covid-19 levels. This is the first buyback offering by the company where eligible employees can sell up to 35 per cent 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, the company said in a statement.

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