Key Quantitative Figures

  • Total stock options granted: 123,000
  • Plan: Delhivery Employees Stock Option Plan IV, 2021 (ESOP-2021)
  • Each stock option is convertible into one fully paid-up equity share of face value Re. 1 each.
  • Total number of shares covered: 123,000 equity shares of Re. 1 each.
  • Exercise price: Re. 1 per share.

Parties Involved

  • The approving authority: The Nomination and Remuneration Committee (NRC) of the Board of Directors of Delhivery Limited.
  • Recipients: Eligible employees of Delhivery Limited.
  • The disclosure is signed by Madhulika Rawat, Company Secretary & Compliance Officer.

Vesting Schedules

The grant consists of two tranches with different vesting schedules:

Tranche 1: 83,000 Stock Options

  • 10% vest upon completion of 12 months from the date of grant.
  • 30% vest upon completion of 24 months from the date of grant.
  • The remaining options vest at a rate of 15% every 6 months thereafter.

Tranche 2: 40,000 Stock Options

  • 20% vest upon completion of 12 months from the date of grant.
  • 30% vest upon completion of 24 months from the date of grant.
  • 50% vest upon completion of 36 months from the date of grant.

Significant Terms & Conditions

  • The terms provide for the treatment of options in cases of death, permanent incapacity, resignation, termination, retirement, or abandonment.
  • Requisite adjustments (which may include the number of options) will be made fairly and reasonably for any corporate actions such as rights issues, bonus issues, stock splits, consolidations, mergers, amalgamations, or other reorganizations.
  • Equity shares allotted upon exercise will not be subject to any lock-in period.
  • These shares will rank pari passu with all other existing equity shares of the company from their date of allotment.

Other Disclosures

  • Money realized by exercise of options: Not Applicable
  • Total number of shares from exercise: Not Applicable
  • Options lapsed: Not Applicable
  • Variation of terms: Not Applicable
  • Subsequent changes/cancellation/exercise: Not Applicable
  • Diluted earnings per share impact: Not Applicable

Additional Information

This disclosure was also hosted on the company's website at www.delhivery.com.