Pine Labs Limited has announced the approval of a substantial grant of 16,37,152 employee stock options (ESOPs). This significant award, approved by the Nomination and Remuneration Committee on October 28, 2026, falls under the company’s Employee Stock Option Plan 2025. The options will be granted to eligible employees, with vesting scheduled to commence 12 months from the grant date. This move aims to incentivize and retain key talent within the organization.
Pine Labs Approves Major ESOP Grant
Pine Labs Limited has officially approved the grant of 16,37,152 employee stock options to its eligible workforce. The decision was made by the company’s Nomination and Remuneration Committee on October 28, 2026. This issuance is part of the Pine Labs Employee Stock Option Plan 2025 (ESOP Scheme) and is well within the shareholder-approved limit of over 10 crore stock options.
Details of the Stock Option Grant
The granted options are convertible into fully paid-up equity shares, each with a face value of INR 1. The grant comprises various tranches with different exercise prices, including 11,63,937 ESOPs at INR 139.94, 2,36,370 ESOPs at INR 150.06, and 2,36,845 ESOPs at INR 5.40. The pricing formula for these options is based on the Volume Adjusted Weighted Average Price of the preceding three months, with a 10% discount applied, except for options granted at INR 5.40.
Vesting and Exercise Schedule
As of the grant date, no stock options have been vested. The vesting schedule outlines a period of 48 months. The first vesting event will occur 12 months from the grant date, with 25% of the options vesting then. Following this initial vesting, subsequent monthly vesting will take place at approximately 2.08% per month. The exercise period for vested options is 5 years from the date of vesting. In cases of exit, vested options can be exercised within 1 year from the date of exit. Crucially, grantees must remain active employees on the date of vesting to be eligible.
Source: BSE
