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ByteDance has raised the internal price of its "Doubao shares" incentive scheme by nearly 15 percent to US$17.02 (HK$132.75) per share to boost incentives for its core artificial intelligence team, mainland media reported citing sources.
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The Chinese tech giant recently held an explanatory briefing for employees at its Seed AI lab to introduce the updated policy, which marked an increase from the previous valuation of US$14.85 per share set in June, according to the reports.
It is understood that the price of the virtual shares stood at US$13.08 in April, representing a cumulative increase of 30 percent over the past four months.
ByteDance is also set to increase the volume of Doubao shares granted, with allocations varying by individual and expected to account for around 5 percent of total compensation packages for certain employees, reports said.
Under the new scheme, employees can reportedly adjust their pay structures flexibly by swapping a portion of their cash salary for Doubao shares. The maximum conversion ceiling depends on job rankings, capped at 20 percent for select L2 and L3 level staff, and up to 25 to 30 percent for some L3 and L4 employees.
The "Doubao shares" program is an internal virtual equity incentive mechanism specifically tailored for ByteDance’s core AI business and large language model teams, including its Seed laboratory, according to the reports.
