1,35,555 stock options granted to eligible employees under ESOP Scheme 2024
1,35,555 stock options granted to eligible employees under BGV Employee Stock Option Scheme 2024 on October 14, 2026.
By ScoutQuest · · 1 min read
- Stock Options Granted
- 1,35,555 stock options granted to eligible employees
- Exercise Price
- Rs. 2 per option
- Exercise Period
- 10 years from the date of vesting
Grant of stock options
The company has granted 1,35,555 stock options to eligible employees under the Billionbrains Garage Ventures Limited Employee Stock Option Scheme 2024 on October 14, 2026.
The Scheme is stated to be in terms of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Key terms of the grant
- Each stock option is convertible into one fully paid-up equity share of face value Rs. 2 each.
- The number of equity shares covered by the options granted is 1,35,555, including requisite adjustment pursuant to corporate actions as provided under the ESOP scheme.
- Exercise price: Rs. 2 per stock option.
- Exercise period: 10 (ten) years from the date of vesting, subject to the terms and conditions of the Scheme.
- The Scheme also provides for the manner in which stock options would be dealt with in case of death, permanent incapacity, resignation, termination, retirement etc.
What an employee stock option is
An employee stock option is a right given to an employee to buy a share of the company at a fixed price at a later date, usually after a waiting period called vesting. Until the employee exercises the option, no new shares are issued. When an employee exercises an option, the employee pays the exercise price and the company allots shares.
The annexure notes that options vested and options exercised are "Not Applicable, as this outcome is pertaining to grant of Options under the Scheme". It also states that the money realised by exercise of options is "Not Applicable" on the same basis, as this intimation relates to a grant of options.
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More numbers
- Stock options granted to eligible employees1,35,555
- Equity shares covered by the options granted1,35,555
- Face value per equity shareRs. 2
- Exercise price per stock optionRs. 2
- Exercise period from date of vesting10 (ten) years
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