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TV18 launches employee stock reward scheme

MUMBAI: Television Eighteen India Ltd (TV18) has

has launched its ` Employee Stock Appreciation Rights Scheme', an official statement said.

The scheme will involve participation from over 200 current employees - 90 per cent of TV 18's employees in creative and management positions, covering a wide range of employees in senior, middle and entry levels within the company.

It is `` innovatively structured to enable TV 18 employees to profitably participate in the long term appreciation of TV 18's stock. The scheme has been devised in a manner that insulates employees against any adverse market fluctuations of the company's stock price to a large extent.''

The scheme also aims to reward employees on a progressive basis with quarterly vesting of stock options over a three year period without any lock in period.

The statement said the granting of stock options under the scheme will not have any effect on the company's equity share capital or profitability as the stock will be granted from the existing Employee Stock Option Trust at fair market value.

_ Our Bureau