Shareholders approve increase in ESOP 2023 option pool to 48,00,000 from 38,00,000

Shareholders at the 6th AGM on 29 September 2026 approved raising the Veefin ESOP 2023 pool from 38,00,000 options to 48,00,000 options, adding 10,00,000.

Thu 1 Oct 2026

ESOP 2023 pool increased to

48,00,000 options

Additional options created

10,00,000

Options granted till date

36,62,732

Options exercised

14,26,390

Money realised on exercise

1,42,63,900

What shareholders approved

Shareholders at the 6th Annual General Meeting held on 29 September 2026 approved an increase in the aggregate number of employee stock options and equity shares reserved under the Veefin - Employee Stock Option Plan 2023. The Board of Directors has increased the aggregate number of options originally reserved from 38,00,000 options to 48,00,000 options, by creating an additional 10,00,000 options for grant to eligible employees of the company and/or its subsidiary(ies) and/or holding company, from time to time, in one or more tranches. These options are convertible into not exceeding 48,00,000 equity shares of face value of Rs. 10 each, fully paid-up, upon exercise of vested options.

Where the plan stands so far

• Total options granted till the date of sending the notice to shareholders: 36,62,732
• Options vested as on date: 15,32,143
• Options exercised: 14,26,390
• Money realised by exercise of options: 1,42,63,900
• Total number of shares arising as a result of exercise of options: 14,26,390
• Options lapsed: 5,93,808

Vesting and pricing terms

• Options granted on any date do not vest earlier than 12 months and not later than 72 months from the date of grant of the respective options.
• All vested options are exercisable at any time during employment with the company, holding company or subsidiary company.
• The exercise price of any option is determined by the NRC and shall not be less than the face value of the equity shares and not more than the closing market price as on the previous day of the date of grant.
• Once granted, the exercise price may be varied by the NRC to account for rights issues, mergers, stock splits, bonus issue or share consolidations.
• The NRC may make modifications, changes, variations, alterations or revisions in the plan from time to time, not unfavourable or prejudicial to allottees except due to change in laws or regulations, and subject to prior approval of shareholders via special resolution.

What this could mean

An increase in the option pool means a larger number of shares can potentially be issued to employees in the future. When such options are exercised, the number of equity shares in circulation can increase, which is a potential dilution of existing shareholders' holdings. On the other hand, employee stock options are a common tool to attract and retain staff, and exercise of options brings cash into the company; the update shows 1,42,63,900 realised from options exercised so far. Worth noting for scale: the increased pool of 48,00,000 options compares with 36,62,732 options granted till date and 14,26,390 options already exercised.

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