Pine Labs Limited disclosed the approval of employee stock option grants by its Nomination and Remuneration Committee (NRC) at its meeting held on June 19, 2026.
Key Quantitative Figures
- Total options granted: 26,10,989 employee stock options
- Share conversion: Each option convertible into one fully paid-up equity share of face value ₹1
- Pricing structure:
- 19,05,257 options priced at ₹150.70 per stock option
- 7,05,732 options priced at ₹5.40 per stock option
- Shareholder approved limit: 10,20,98,072 options
Pricing Formula
The ₹150.70 price was calculated as Volume Adjusted Weighted Average Price of last 3 months, discounted by 10%.
Vesting Schedule Details
Three distinct vesting schedules were approved:
1. 7,05,732 stock options: Vesting period 36 to 48 months. First vesting of 25%-42% upon completion of 12 months from grant date, followed by monthly vesting.
2. 18,15,840 stock options: Vesting period 40 to 48 months. First vesting of 25%-42% upon completion of 12 months from grant date, followed by monthly vesting.
3. 89,417 stock options: Vesting period 48 months. 50% vesting upon completion of 36 months, balance 50% upon completion of 48 months.
Exercise Period
The exercise period shall be 5 years from the date of vesting, subject to the terms and conditions of the Scheme.
Current Status
- Options vested: Nil options vested so far out of the 26,10,989 granted
- Options exercised: Not applicable
- Money realized: Not applicable
- Shares arising from exercise: Not applicable
- Options lapsed: Not applicable
- Variation in terms: Not applicable
Significant Terms
The grantee must be an active employee on the date of vesting to exercise the options.
Subsequent Changes
No subsequent changes, cancellation, or exercise of these options has occurred.
Financial Impact
- Diluted earnings per share impact: Not applicable at this time
- Financial impact not quantified in the disclosure beyond the option grant details