TikTok owner ByteDance increases price of stock option buyback

BEIJING, Oct 12 (Reuters): TikTok's Chinese owner ByteDance is initiating a second stock option buyback for employees this year at a higher price than the previous one to try and motivate staff amid slowing growth and uncertainty over a plan to go public, some employees said.
They said ByteDance told them in an email that those eligible can apply to cash out their Restricted Stock Units (RSUs), ByteDance's stock option programme. It offered $155 per unit, up from the $142 price set in the buyback earlier this year, two of the employees said.
The higher price is aimed at motivating staff by helping them monetise their holdings, they said, declining to be named as the information was confidential.
ByteDance, which has around 110,000 employees globally, did not immediately respond to a request for comment.
It could not be immediately determined how many RSUs have been issued or how much ByteDance has set aside for the buyback.