Delhivery Grants 64,400 ESOPs at Re 1 Exercise Price

Number of options granted: 64,400
Plan: Delhivery Employees Stock Option Plan IV, 2021 (ESOP IV, 2021)
Total shares covered: 64,400 equity shares
Face value per share: Re. 1/- each
Exercise price per option: Re. 1/-

Grantor: Delhivery Limited
Approving body: Nomination and Remuneration Committee (NRC) of the Board of Directors
Recipients: Eligible employees of the Company
Compliance Officer: Madhulika Rawat, Company Secretary & Compliance Officer (Membership No: F8765)

The 64,400 stock options will vest over a 4-year period from the date of grant as follows:

10% (6,440 options) vest upon completion of 12 months from the date of grant.
30% (19,320 options) vest upon completion of 24 months from the date of grant.
The remaining 60% (38,640 options) vest at a rate of 15% every 6 months thereafter.

Options can be exercised any time from their respective vesting date(s) until the employee continues in the employment of the Company.

The terms define the treatment of options in cases of death, permanent incapacity, resignation, termination, retirement, or abandonment.
Requisite adjustments to the number of options will be made for corporate actions such as rights issues, bonus issues, stock splits, consolidations, mergers, amalgamations, or reorganizations.
Equity shares allotted upon exercise will not be subject to any lock-in period.
Shares allotted will rank pari passu with all other equity shares of the Company from the date of allotment.

The scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
As this is a new grant, fields for Options Exercised, Money Realized, Total Shares from Exercise, Options Lapsed, Variation of Terms, and Diluted EPS are marked "Not Applicable."
The disclosure will be hosted on the Company's website at www.delhivery.com.