Delhivery Limited announced that its Nomination and Remuneration Committee has approved the grant of 35,97,432 stock options under the Delhivery Employees Stock Option Plan IV, 2021. These options are granted to eligible employees and will be effective from June 1, 2026. The exercise price for each option is set at Re. 1/- per share, with varying vesting schedules depending on the option pool.
Delhivery Limited Approves Stock Option Grant
Delhivery Limited has officially announced the approval of a significant stock option grant. The company’s Nomination and Remuneration Committee has sanctioned the issuance of 35,97,432 stock options to eligible employees. These options are part of the Delhivery Employees Stock Option Plan IV, 2021, commonly referred to as “ESOP-2021”. The grant is effective from June 1, 2026.
Key Details of the Stock Option Grant
Each granted stock option is convertible into one fully paid-up equity share of the company, with a face value of Re. 1/-. Consequently, a total of 35,97,432 equity shares are covered by this grant. The exercise price for each option has been fixed at a nominal Re. 1/- per share.
Vesting Schedules and Timelines
The vesting of these stock options will occur in tranches, subject to the fulfillment of conditions outlined in the ESOP-2021. For a pool of 1,04,190 stock options, the vesting schedule is as follows:
- 10% of options vest upon completion of 12 months from the grant date.
- 30% of options vest upon completion of 24 months from the grant date.
- The remaining options vest at a rate of 15% every 6 months thereafter.
Another substantial portion of 34,93,242 stock options will vest according to a different schedule:
- 20% of options vest upon completion of 12 months from the grant date.
- 30% of options vest upon completion of 24 months from the grant date.
- The final 50% of options vest upon completion of 36 months from the grant date.
In total, 1,04,190 stock options will vest over a period of 4 years from the grant date, while the remaining 34,93,242 stock options will vest over a period of 3 years from the grant date. These options can be exercised anytime from their respective vesting dates as per the terms of the grant.
Terms and Conditions
The terms of the grant encompass provisions for various scenarios, including the employee’s death, permanent incapacity, resignation, termination, retirement, or abandonment. In the event of corporate actions such as rights issues, bonus issues, stock splits, mergers, or acquisitions, adjustments to the number of options may be made in a fair and reasonable manner, consistent with ESOP-2021 guidelines. Importantly, equity shares allotted upon exercise of these stock options will not be subject to any lock-in period and will rank pari passu with all other existing equity shares of the company.
The disclosure regarding this grant will also be available on the company’s official website, www.delhivery.com.
Source: BSE
