The approval was granted at the 41st Annual General Meeting (AGM) held on Tuesday, August 18, 2026. The meeting commenced at 04:00 P.M. and concluded at 05:04 P.M. (IST) and was conducted through Video Conferencing (VC)/ Other Audio-Visual Means (OAVM).
The approval was based on a report issued by the scrutinizer, Mr. Devesh Kumar Vasisht (CP No. 13700), Managing Partner of M/s DPV & Associates, LLP, dated August 18, 2026. The proposal was approved by the members with the requisite majority.
The specific amendment approved involves the insertion of a new Clause (n) under Head 3. Administration, Sub-head 3.1.3 of the ESOP plan. This clause grants the Compensation Committee the authority to:
- Undertake repricing of Stock Options from time to time
- Reduce or revise the Exercise Price
- Modify vesting or exercise conditions
- Cancel and re-grant Options
- Undertake any other variation of the terms of Options
This authority is to be exercised in response to prevailing market conditions, a significant decline in the market price of the company's equity shares, or other business circumstances. The clause stipulates that any such action must be exercised in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and other applicable law, and provided that such repricing or variation is not prejudicial to the interests of the Option holders.
The amendment was initially approved by the Board of Directors at its meeting held on May 22, 2026, before being put to shareholder vote at the AGM.
This intimation is also hosted on the company's website at www.quintdigital.in.