The members approved the grant of 9,00,000 stock options under the Delhivery Employees Stock Option Plan IV, 2021 (ESOP-2021). The grant is effective from September 22, 2026.
Option Allocation Details
- 4,50,000 stock options granted to Mr. Sahil Barua, Managing Director and Chief Executive Officer
- 2,25,000 stock options granted to Mr. Kapil Bharati, Whole-time Director (Executive Director and Chief Technology Officer)
- 2,25,000 stock options granted to Mr. Suraj Saharan, Whole-time Director (Executive Director and Chief People Officer)
Scheme Compliance
The ESOP scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Share Coverage
Each stock option is convertible into one fully paid-up equity share with a face value of Re. 1 each. The total number of shares covered by these options is 9,00,000 equity shares.
Exercise Price
The exercise price is set at Re. 1 per share.
Vesting Schedule
Subject to fulfilment of conditions specified in ESOP-2021, the 9,00,000 stock options will vest as follows:
- 20% of granted options vest upon completion of 12 months from date of grant
- 30% of granted options vest upon completion of 24 months from date of grant
- Remaining 50% of options vest upon completion of 36 months from date of grant
Exercise Period
Stock options vest over a period of 3 years from the date of grant and can be exercised any time from the respective vesting date(s) while the employee continues employment with the Company.
Additional Terms
The equity shares allotted upon exercise of stock options would not be subject to any lock-in period. ESOP shares arising from conversion of options shall rank pari passu with all other equity shares of the Company from the date of allotment.
In case of corporate actions such as rights issue, bonus issue, stock split or consolidation, merger/amalgamation, or other reorganization, requisite adjustments (which may include adjustments to the number of options) shall be made in a fair and reasonable manner according to ESOP-2021.