Grant of 20,857 stock options under ESOP 2024 Plan, covering 10,21,993 equity shares
Meesho's Nomination and Remuneration Committee approved the grant of 20,857 stock options to eligible employee(s) under the ESOP 2024 Plan.
- Stock Options Granted
- 20,857 stock options
- Equity Shares Covered
- 10,21,993 equity shares
- Exercise Price
- Re. 1 per stock option
- Share Conversion Ratio
- Each option converts into 49 fully paid-up equity shares
- Face Value
- Re. 1 each
What was announced
Meesho's Nomination and Remuneration Committee, through a circular resolution, approved the grant of 20,857 stock options to eligible employee(s) under the Company's ESOP 2024 Plan.
Key terms
- Each option is convertible into 49 fully paid-up equity shares of face value Re. 1 each.
- Total shares covered: 10,21,993 equity shares of face value Re. 1 each, including requisite adjustment for corporate actions under the plan.
- Exercise price: Re. 1/- per stock option.
- Options may be exercised any time after the vesting period, provided the grantee is in the Company's employment.
- On cessation of employment, vested options as on the last working day may be exercised within 6 months.
- Equity shares allotted on exercise would not be subject to lock-in.
How to read this
Stock options are a way of paying and retaining employees with shares rather than only cash. At this stage the options are only granted; they are not yet vested or exercised. If and when employees exercise them, new shares get issued, which adds to the total share count and can mildly dilute existing shareholders. The scheme is stated to be in terms of the SEBI (SBEB) Regulations, 2021.
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More numbers
- Stock options granted20,857 Stock Options
- Shares per option49 fully paid-up equity shares
- Total equity shares covered10,21,993 equity shares
- Exercise price per optionRe. 1/- per stock option
- Face value per shareRe. 1/- each
- Exercise window after cessation of employment6 (Six) months
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