Committee approves grant of 27,500 stock options under ESOP 2018

Nomination and Remuneration Committee approved grant of 27,500 stock options under ESOP 2018 on Oct 1, 2026.

Thu 1 Oct 2026

Options Granted

27,500 stock options under ESOP 2018

Grant Date

Oct 1, 2026

Exercise Price (10,000 options)

Rs. 2,142.40

Exercise Price (17,500 options)

Rs. 3,782.60

Vesting & Exercise

4 yearly instalments of 25% each; exercise within 3 years of vesting

The Nomination and Remuneration Committee of the company approved a grant of stock options to eligible employees under the Employee Stock Option Plan 2018.

What was granted

• 27,500 stock options were granted to eligible employees pursuant to ESOP 2018.
• The grant was approved on October 1, 2026.
• The options come in two price buckets: 10,000 options at an exercise price of Rs. 2,142.40 per option, and 17,500 options at an exercise price of Rs. 3,782.60 per option.

What each option carries

• The ESOP 2018 is administered by the Nomination and Remuneration Committee.
• The options relate to equity shares of face value Rs. 2/- each.
• Once vested, an option holder can acquire an equal number of equity shares on payment of the exercise price and applicable taxes, as per the terms of ESOP 2018.
• If all granted options are vested and exercised, 27,500 equity shares of Rs. 2/- each would arise.
• Eligibility for the grant is based on the eligibility criteria in ESOP 2018.

How the vesting works

• Options vest in 4 years in 4 equal instalments of 25% each per year from the date of grant.
• 25% vests at the end of the first year.
• 25% vests at the end of the second year, taking the cumulative figure to 50%.
• 25% vests at the end of the third year, taking the cumulative figure to 75%.
• 25% vests at the end of the fourth year, taking the cumulative figure to 100%.
• Subject to the vesting conditions, options must be exercised within three (3) years from the date of the respective vesting.

How employees pay

• The exercise price is payable by the option holder when the option is exercised, along with applicable taxes.
• For this grant event, the disclosure states that options exercised and money realised by exercise of options are Not Applicable, as the event pertains to the grant of options.
• The disclosure also states that options lapsed and variation of terms of options are Not Applicable, and that diluted earnings per share pursuant to issue of equity shares on exercise of options is Not Applicable.

What this can mean for existing shareholders

• An ESOP is a form of employee compensation in which shares are issued to employees later, when the options vest and are exercised.
• Each exercised option results in an equity share being issued, so the number of shares can rise over the vesting and exercise period.
• The grant is spread over the vesting and exercise timelines, so any shares arising from it would come over that period rather than all at once.
• Two different exercise prices apply to the two sets of options in this grant, reflecting the terms set out in the disclosure.

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