WAAREE Energies has announced the grant of 17,062 stock options to eligible employees under its Employee Stock Option Plan 2021 (ESOP 2021). The Nomination and Remuneration Committee approved the grant. Each option’s exercise price is set at ₹10. Vesting occurs gradually over six years, starting with 15% after the first year and culminating in 20% in the fifth and sixth years.
ESOP Grant Details
WAAREE Energies has approved the allocation of 17,062 stock options to its employees through the Waaree Employee Stock Option Plan 2021 (ESOP 2021). This decision was made by the Nomination and Remuneration Committee.
Vesting Schedule
The options vest incrementally over a six-year period as follows:
- Year 1: 15%
- Year 2: 15%
- Year 3: 15%
- Year 4: 15%
- Year 5: 20%
- Year 6: 20%
Key Terms
The exercise price for each option is ₹10. Once vested, options are exercisable within four years from their vesting date.
Source: BSE
