Log9 Materials, the emerging pioneers in battery technology, has announced an Employee Stock Ownership Plan (ESOP) buyback worth Rs. 1.5 Crores for the year 2023. Last year Log9ners had benefited from a similar ESOP buyback nearing 1 Crore. These initiatives are not just a financial transaction but a reaffirmation of Log9’s dedication to placing employees first.
This year’s ESOP buyback encompasses shares of 17 employees, many of whom have been instrumental in propelling Log9’s remarkable growth. The beneficiaries span a wide age range, from individuals in their mid-20s to those in their mid-50s. It’s a testament to Log9’s diverse and inclusive work environment, where dedication and commitment are recognized and rewarded across generations.
Among the beneficiaries are some of Log9’s longest-serving employees, both from core and non-core functions. Their dedication has been instrumental in the company’s ongoing success, and this buyback represents not just a financial gain but a deep appreciation for their efforts. Many of these employees have witnessed their earnings increase significantly, underlining Log9’s commitment to their well-being.
Log9’s quest for prosperity has also left a trail of satisfied investors in its wake. Several of the company’s early investors experienced an extraordinary return on investment (ROI). In a testament to the company’s forward-thinking approach, emphasizing Log9’s commitment to fostering young talent and providing opportunities for growth and advancement.
An ESOP benefiter from Log9 says, “ESOPs offer us a diversified investment because we are invested in the company that we work for, which may have a different risk profile compared to traditional investments like stocks or bonds. This diversification can be a valuable part of our overall investments. It encourages a long-term perspective. That’s because we, as employees, have vested interest in the company’s future, so we may be more inclined to stay longer with Log9 and contribute to its growth in the coming years. Owning ESOPs makes us feel appreciated and compensated for the work that we do.”
This ESOP buyback isn’t a one-time occurrence for Log9; it’s a practice the company intends to incorporate in the coming years, reflecting Log9’s belief in the importance of sharing the company’s journey towards success with those who have contributed to its growth.
