The Nomination and Remuneration Committee (NRC) of the Board of Directors approved the grant of 5,800 stock options to an eligible employee under the Waaree Employee Stock Option Plan 2021 (ESOP 2021/ Plan), as amended.
The scheme is in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2021.
The total number of shares covered by these options is 5,800 Equity Shares of ₹10 each.
The exercise price for the options has been determined at ₹10 (Rupees Ten only) per option.
Vesting Schedule
The options shall vest over a period of six years according to the following schedule:
- At the end of the 1st year from the grant date: 15% of options granted.
- At the end of the 2nd year from the grant date: 15% of options granted.
- At the end of the 3rd year from the grant date: 15% of options granted.
- At the end of the 4th year from the grant date: 15% of options granted.
- At the end of the 5th year from the grant date: 20% of options granted.
- At the end of the 6th year from the grant date: 20% of options granted.
All vested options are exercisable within a period of four years from the date of vesting of the respective options.
The disclosure is made in accordance with SEBI circular number H0/49/14/14(7)2025-CFD-POD2/l/3762/2026 dated January 30, 2026.
The annexure states that no options have been exercised, no money has been realized, no shares have arisen from exercise, no options have lapsed, there is no variation of terms, and the diluted EPS impact is not applicable at this time. Significant terms are as per the plan document.
The letter was signed by Rajesh Ghanshyam Gaur, Company Secretary & Compliance Officer (Membership Number: A34629).