Delhivery Limited’s Nomination and Remuneration Committee has approved the grant of 64,400 stock options under its ESOP IV, 2021 plan to eligible employees. These options will vest over a period of four years, starting 12 months from the grant date of November 3, 2026. Each option is convertible into one fully paid-up equity share with a face value of Re. 1/-, at an exercise price of Re. 1/- per share.
Employee Stock Option Grant Approved
Delhivery Limited announced today that its Nomination and Remuneration Committee has approved the grant of 64,400 stock options. These options are issued under the Delhivery Employees Stock Option Plan IV, 2021, referred to as “ESOP IV, 2021”. The grant was made to eligible employees of the Company effective November 3, 2026.
Key Details of the Grant
Each of the 64,400 stock options granted is convertible into one fully paid-up equity share of the Company, each with a face value of Re. 1/-. The exercise price for these options is set at Re. 1/- per share. The total number of shares covered by these options amounts to 64,400 equity shares.
Vesting Schedule and Exercise Period
The vesting of these stock options is subject to the fulfilment of conditions specified in ESOP IV, 2021. The vesting will occur in tranches:
- 10% of the stock options granted will vest upon the completion of 12 months from the date of grant.
- 30% of the stock options granted will vest upon the completion of 24 months from the date of grant.
- The remaining stock options will vest at a rate of 15% every 6 months thereafter.
In total, the 64,400 options shall vest over a period of 4 years from the date of grant. These options can be exercised any time from their respective vesting dates until the employee’s continuous employment with the Company ceases.
Terms of Options
The terms of the grant provide for the handling of options in various scenarios, including death, permanent incapacity, resignation, termination, retirement, and abandonment. In the event of corporate actions such as rights issues, bonus issues, splits, consolidations, mergers, amalgamations, or reorganizations, requisite adjustments to the number of options will be made in a fair and reasonable manner, consistent with the ESOP IV, 2021 guidelines.
Equity shares allotted upon the exercise of these stock options will not be subject to any lock-in period and will rank pari passu with all other equity shares of the Company from the date of allotment.
Source: BSE
