NIIT Learning Systems Limited disclosed the grant of 1,488,667 stock options to eligible employees under the NLSL Employee Stock Option Plan 2024, approved by the Nomination and Remuneration Committee on July 28, 2026. These options are convertible into an equivalent number of equity shares (1,488,667) upon exercise.

The grant consists of multiple series with different terms:

NLSL ESOP 2024 – XIII

  • Options granted: 322,000
  • Exercise price: Rs. 233.57 per option (based on NSE closing price on July 27, 2026)
  • Vesting: 3 equal installments at end of first, second, and third year from grant date
  • Exercise period: Five years from each vesting date

NLSL ESOP 2024 – XIV

  • Options granted: 20,000
  • Exercise price: Rs. 233.57 per option
  • Vesting: 2 equal installments at end of first and second year from grant date
  • Exercise period: Five years from each vesting date

NLSL ESOP 2024 – XV

  • Options granted: 13,000
  • Exercise price: Rs. 233.57 per option
  • Vesting: Full vesting at end of first year from grant date
  • Exercise period: Five years from vesting date

NLSL ESOP 2024 – XVI

  • Options granted: 76,667
  • Exercise price: Rs. 233.57 per option
  • Vesting: Full vesting at end of second year from grant date
  • Exercise period: Five years from vesting date

NLSL ESOP 2024 – XVII

  • Options granted: 640,000
  • Exercise price: Rs. 233.57 per option
  • Vesting: Full vesting at end of third year from grant date
  • Exercise period: Five years from vesting date

NLSL ESOP 2024 – XVIII

  • Options granted: 265,000
  • Exercise price: Rs. 2 per option (face value)
  • Vesting: 3 equal installments at end of first, second, and third year (performance-linked)
  • Exercise period: Before March 15 of calendar year subsequent to each vest

NLSL ESOP 2024 – XIX

  • Options granted: 45,000
  • Exercise price: Rs. 2 per option (face value)
  • Vesting: 2 equal installments at end of first and second year (performance-linked)
  • Exercise period: Five years from each vesting date

NLSL ESOP 2024 – XX

  • Options granted: 17,000
  • Exercise price: Rs. 2 per option (face value)
  • Vesting: Full vesting at end of first year (performance-linked)
  • Exercise period: Five years from vesting date

NLSL ESOP 2024 – XXI

  • Options granted: 90,000
  • Exercise price: Rs. 2 per option (face value)
  • Vesting: Full vesting at end of first year (performance-linked)
  • Exercise period: Before March 15 of calendar year subsequent to vest

Performance Conditions:

All options granted at Rs. 2 exercise price are performance-linked with two performance goals: revenue for the financial year and EBITDA for the same period, each carrying fifty percent weightage. The threshold for performance is 85%, below which options shall not vest.

The disclosure was signed by Deepak Bansal, Company Secretary & Compliance Officer, and submitted to BSE Limited and National Stock Exchange of India Limited.