The Nomination and Remuneration Committee of the Company, at its meeting held on August 07, 2026, approved the grant of 22,05,000 stock options. The meeting commenced at 13:15 Hours (IST) and concluded at 13:30 Hours (IST).
The grant is made under the 'Praxis Employee Stock Option Plan 2024' (ESOP Scheme) and is in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The disclosure is also made as required under SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
Key Details of the Grant:
- Number of Options Granted: 22,05,000
- Exercise Price: ₹5 per option
- Total Shares Covered: 22,05,000 equity shares of ₹5 each
- Pricing Formula: Options granted at the face value of the equity shares (₹5)
Vesting Schedule:
- After 1 year from grant date: 40% of options vest
- After 2 years from grant date: 30% of options vest
- After 3 years from grant date: 30% of options vest
Exercise Period:
The options may be exercised by grantees within a period of 3 years from the date of respective vesting.
Significant Terms:
- The scheme outlines treatment of options in cases of death, permanent incapacity, resignation, termination, retirement, or abandonment.
- Provisions exist for adjustments to the number of stock options in event of corporate actions such as rights issue, bonus issue, stock split, consolidation, merger, amalgamation, sale of division/undertaking, or other reorganization. Adjustments will be made in a fair and reasonable manner.
- Equity shares allotted upon exercise of the stock options are not subject to any lock-in period.