eClerx Services Limited has announced the formal approval for the vesting of 498,610 employee stock options. These options were originally granted to eligible employees of the company and its subsidiaries on May 25, 2023, under the Employee Stock Option Scheme 2022. The vesting follows the company’s commitment to incentivizing its workforce and aligning employee interests with the long-term growth and performance objectives of the organization.
Stock Option Vesting Details
During the meeting held on May 13, 2026, the Nomination and Remuneration Committee officially approved the vesting of 498,610 equity shares. These options represent a portion of the 1,256,270 options originally granted to eligible staff. Each of these options corresponds to an equity share with a face value of Rs. 10/-.
Pricing and Exercise Terms
The granted options were issued at an exercise price of Rs. 709.91. Employees who have received these vested options are provided with a window of 3 (three) years from the date of vesting to exercise their rights. This exercise period allows employees to convert their options into equity shares, subject to the conditions outlined in the company’s current incentive framework.
Key Terms and Employment Conditions
The Employee Stock Option Scheme 2022 is managed through an independent trust that facilitates secondary market purchases to support the plan. The program includes specific provisions regarding employment status:
- Exercise window: Vested options must be exercised within 3 years from the vesting date.
- Resignation or Termination: Any unvested options will expire immediately upon the submission of a resignation or termination notice.
- Abandonment of Employment: If an employee abandons their position without consent, all outstanding options—including vested ones—will be terminated immediately.
The Nomination and Remuneration Committee maintains the authority to adjust the exercise price or the number of options in response to any significant corporate actions, ensuring the scheme remains fair and balanced for all participants.
Source: BSE
