Japan-based marketplace-operator Mercari will grant shares worth Y380 million ($2.9 million U.S.) to employees under a restricted stock units (RSU) plan.

Mercari will issue 158,709 shares to “239 employees of the subsidiary of the company in the United States of America who meet the vesting conditions in accordance with the relevant RSU,” it said.

Mercari launched in Japan in 2013 and the following year in the U.S. The company’s revenue rose by 18% to $335 million U.S. during the December quarter. However, the revenue contribution from the U.S. was down by 12% to $84 million U.S.

The performance-based RSUs will be issued on May 15, according to a company announcement.

“…[T]he company will deliver the shares in return for contribution in kind of the monetary claims given to the relevant employees. For the avoidance of doubt, there is no restriction on transfer or any other encumbrance on the shares delivered by the issuance of new shares,” it said.

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