64,400 stock options granted to employees under ESOP IV, 2021 at Re. 1 exercise price
NRC approved grant of 64,400 stock options under ESOP IV, 2021 to eligible employees.
By ScoutQuest · · 1 min read
- Stock options granted
- 64,400
- Exercise price
- Re. 1 per share
- Vesting schedule
- 10% at 12 months, 30% at 24 months, then 15% every 6 months
- Total vesting period
- 4 years
- Plan
- ESOP IV, 2021
What happened
The Nomination and Remuneration Committee (NRC) of the Board approved the grant of 64,400 stock options under Delhivery Employees Stock Option Plan IV, 2021 to eligible employees, effective November 01, 2026.
Key terms
- Each option converts into one fully paid-up equity share of face value Re. 1.
- Total shares covered: 64,400 equity shares.
- Exercise price: Re. 1 per share.
- Shares from exercise will not be subject to lock-in and will rank equally with existing shares.
Vesting schedule
- 10% vests after 12 months from grant.
- 30% vests after 24 months from grant.
- The remaining vest at 15% every 6 months thereafter.
- Full vesting over 4 years; options can be exercised any time after vesting while the employee stays employed.
What it means
ESOPs are a common way to reward and retain employees. When exercised, they add new shares, causing a small dilution for existing shareholders. The low exercise price means employees pay very little to convert options into shares.
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More numbers
- Stock options granted64,400
- Exercise price per shareRe. 1/-
- Vesting after 12 months10%
- Vesting after 24 months30%
- Vesting every 6 months thereafter15%
- Total vesting period4 years
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