I've never heard of such a program before. I'll keep an eye out for the release.
If there is anything that will prevent a major tank is that the company only has 300 employees and if all employees buy 5000 shares (which is unlikely) and then dump them in short order the market will absorb the 1.5 million shares fairly quickly. Hopefully they'll use some sense and not dump them all as 'Market' orders.
QA...you've been positive on this stock. Are you trying to keep price down a little so you can buy more shares?