Didi Handed Bosses Stock Options Worth Billions Before IPO
- Options to top executives are valued at more than $3 billion
- Didi tanked after Chinese regulators ordered app store removal
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Didi Global Inc. handed a group of senior executives and board members a sweet perk in the weeks before its initial public offering: shares worth billions of dollars.
The gift came in the form of stock options, free from the usual four-year vesting restriction and with a strike price Didi described in regulatory filings as “nominal.” That means the recipients are able to convert them into normal shares at almost no cost and sell them once the six-month lockup period expires.