Key Event
Nomination and Remuneration Committee (NRC) of Pine Labs Limited approved the grant of employee stock options on October 28, 2026.
ESOP Grant Details
- Total Options Granted: 16,37,152 (1,637,152) stock options
- Scheme: Pine Labs Employee Stock Option Plan 2025 (ESOP Scheme)
- Eligibility: Granted to eligible employees
- Shareholder Approval: Within approved limit of 10,20,98,072 (10,209,8072) stock options
Conversion Terms
Each stock option is convertible into one fully paid-up equity share having a face value of ₹1 each.
Pricing Formula
Options granted at three different exercise prices:
- 11,63,937 (1,163,937) ESOPs @ ₹139.94 per option
- 2,36,370 (236,370) ESOPs @ ₹150.06 per option
- 2,36,845 (236,845) ESOPs @ ₹5.40 per option
Pricing formula: Volume Adjusted Weighted Average Price of last 3 months, discounted by 10% (except for stock options granted at exercise price of ₹5.40 per option).
Vesting Schedule
- Options Vested: Nil options out of 16,37,152 have been vested so far
- Vesting Period: 48 months
- Vesting Pattern: First vesting of 25% on completion of 12 months from grant date, thereafter monthly vesting of approximately 2.08% per month
Exercise Period
The exercise period shall be 5 years from the date of vesting subject to the terms and conditions of the Scheme. For exit cases, vested options can be exercised within 1 year from the date of exit.
Additional Terms
Grantee must be an active employee on the date of vesting.
Current Status
- Options exercised: Not Applicable
- Money realized by exercise of Options: Not Applicable
- Total number of shares arising from exercise: Not Applicable
- Options lapsed: Not Applicable
- Variation in terms of Options: Not Applicable
- Subsequent changes or cancellation: Not Applicable
- Diluted EPS impact: Not Applicable
Company Contacts
Corporate Office: Unit no. 1504, 15th Floor, A Wing, Plot no. C-70, The Capital, G Block, BKC Bandra East, Mumbai - 400051 | Phone: +022 6986 3600 | Email: info@pinelabs.com