ByteDance,Canada the owner of TikTok and Douyin, is on track to accelerate the stock vesting schedule for its employees as part of an updated incentive policy, announced in a Thursday email. According to Chinese media outlet Jiemian, the company plans to change how often employees can turn their stock options into company stock and sell them for equity, switching from once a year to every quarter. In the latest round of share buybacks in November, ByteDance offered $160 per share to its staff. Employee annual incentives will consist of both an annual bonus and performance stock options starting in 2025, with the former capped at three months’ salary. Employees recognized for outstanding performance will be eligible for additional stock options despite IPO uncertainties over China’s most valuable unicorns. [Jiemian, in Chinese]
