ByteDance Raises Doubao Share Price to $17.02 and Increases Allotments
ByteDance has raised the price of its internal Doubao shares for AI lab Seed employees from $14.85 to $17.02 per share, a 14.61% increase, while also boosting the number of shares granted. Employees can convert up to 20% or 30% of their cash compensation into Doubao shares depending on rank, with some receiving shares equivalent to about 5% of total pay.
ByteDance recently held a briefing on its "Doubao shares" program, introducing a new policy for special shares offered to employees of its artificial intelligence laboratory, Seed. The price of Doubao shares was raised from $14.85 per share in June to $17.02, an increase of 14.61%. The new policy also increases the number of Doubao shares granted, with varying allotments for different employees; some employees may receive Doubao shares equivalent to approximately 5% of their total compensation package.
Employees can adjust the proportion of Doubao shares within their total compensation package, converting a portion of cash into Doubao shares. The conversion ratio varies by rank, including 20% or 30%. Specifically, some L2 and L3 employees have a full allotment ratio of 20%, while some L3 and L4 employees have a full allotment ratio of 25% or 30%. Doubao shares are an internal virtual share incentive plan designed by ByteDance for employees in its AI business. Based on the April price of $13.08 per share, the Doubao share price has risen approximately 30% in four months.