Zaggle Prepaid Ocean Services has announced the approval and grant of 1,27,623 Stock Options to eligible employees under the Zaggle Employee Stock Option Scheme 2022. The grant was approved by the Nomination and Remuneration Committee on February 12, 2026. The exercise price per option has been fixed at ₹223/-, determined as a 25% discount to the closing market price of the preceding day. The options granted are fully vested and are convertible into one fully paid-up equity share of face value ₹1/- each.
Zaggle Approves Significant Employee Stock Option Grant
On Thursday, February 12, 2026, the Nomination and Remuneration Committee/Compensation Committee of Zaggle Prepaid Ocean Services Limited held a meeting and approved the grant of stock options to its eligible employees. The meeting commenced at 12:45 PM (IST) and concluded at 01:07 PM (IST) on the same day.
Key Details of the ESOP Grant
The total number of stock options approved for grant under the Zaggle ESOP 2022 scheme is 1,27,623 (One Lakh Twenty-Seven Thousand, Six Hundred Twenty-Three) Options. These options are fully convertible into one fully paid-up equity share of the company, each having a face value of ₹1/-.
Pricing and Vesting Structure
The Exercise Price for each stock option has been determined to be ₹223/- per option. This pricing structure reflects a 25% discount applied to the closing market price of the company’s share immediately prior to the meeting date, February 11, 2026.
Regarding vesting, the options granted are Not applicable for immediate vesting (Item 5). The option grantee is entitled to exercise the options starting from the first date of vesting up until the expiry of ten years from the vesting of the final tranche, with exceptions detailed within Clause 17 (d) of the ESOP 2022 scheme.
Scheme Governance and Terms
The Zaggle ESOP 2022 is administered directly by the Nomination and Remuneration Committee/Compensation Committee. The terms of the scheme align with the requirements of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
The terms also specify that the underlying equity shares allotted upon exercise of these options will not be subject to a lock-in period. Furthermore, the committee retains the authority to make fair and reasonable adjustments to the number of Stock Options in the event of corporate actions such as rights issues, bonus issues, mergers, or splits, as detailed in the scheme documentation.
Source: BSE
