Delhivery Limited has announced the approval and grant of 1,00,360 stock options under its ESOP 2012 plan. Effective from May 01, 2026, these options are designed to incentivize eligible employees. The options, which have a face value of Re. 1 each, are subject to specific vesting schedules over a three-to-four-year period, aligning employee performance with the company’s long-term growth and commitment to its workforce.
Stock Option Grant Details
The Nomination and Remuneration Committee of the Delhivery Board has officially cleared the issuance of 1,00,360 equity-based stock options. Each option carries a face value of Re. 1 and represents a single fully paid-up equity share of the company. These grants are part of the existing Employees Stock Option Plan (ESOP) 2012, reinforcing the company’s strategy to attract and retain top-tier talent.
Vesting Schedule and Exercise
The vesting of these options is structured into two distinct categories to balance short-term and long-term incentives:
- Standard Grant (88,360 options): These will vest over a 4-year period, with 10% vesting after 12 months, 30% after 24 months, and the remainder vesting at a rate of 15% every 6 months thereafter.
- Special Grant (12,000 options): These will vest over a 3-year period, with 40% vesting after 12 months and the remainder at a rate of 15% every 6 months thereafter.
Employees may exercise these options at an exercise price of Re. 1 per share following their respective vesting dates.
Key Terms and Conditions
Significant provisions of this grant include the treatment of options in scenarios such as death, resignation, termination, or retirement, ensuring clear guidelines for all stakeholders. Additionally, the plan includes protective clauses for corporate actions like bonus issues, stock splits, or mergers, ensuring that adjustments to the grant are handled in a fair and reasonable manner. Furthermore, once converted, these shares will rank pari passu with all existing equity shares and are not subject to any lock-in period.
Source: BSE
