The committee approved a total grant of 13,742,054 stock options under three employee stock option plans:
- 64 options under the Foodie Bay Employee Stock Option Plan 2014 (ESOP 2014)
- 13,340,788 options under the Zomato Employee Stock Option Plan 2021 (ESOP 2021)
- 401,202 options under the Zomato Employee Stock Option Plan 2024 (ESOP 2024)
These stock options were granted to eligible employees of the company. The ESOP schemes are compliant with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Key Terms of the ESOP Grants:
- Conversion Ratio: Each stock option is convertible into one fully paid-up equity share of face value ₹1 each
- Total Shares Covered: The grants cover 14,170,790 equity shares (including requisite adjustments for corporate actions as per ESOP schemes)
- Exercise Price: ₹1 per stock option
- Exercise Period:
- ESOP 2014 & ESOP 2021: Options exercisable within 10 years from vesting or 12 years from listing date, whichever is later
- ESOP 2024: Options exercisable within 10 years from the date of vesting
- Lock-in: Equity shares allotted upon exercise of stock options are not subject to any lock-in period
The schemes also specify terms for handling options in cases of death, permanent incapacity, resignation, termination, retirement, or abandonment.
The disclosure states that sections 7-14 of the annexure (covering subsequent changes, options vested/exercised/lapsed, money realized, variation of terms, and diluted EPS) are not applicable to this grant.
This information is also available on the company's website at www.eternal.com.