Delhivery board approves over 1L ESOP 2012 options at Re.1
Business
Delhivery just handed out over one lakh stock options to its team under ESOP 2012, aiming to keep top talent around and help employees build wealth through company shares.
The board signed off on this move on May 4.
Each option costs just Re. 1 to convert into a regular equity share.
Delhivery ESOPs vest over 4 years
Most of the options (88,360) will vest gradually over four years, starting with 10% after the first year, then 30% in year two, and the rest split every six months.
The remaining batch vests a bit faster: 40% after one year, then 15% every six months.
There's no lock-in period, and once allotted, these shares have the same rights as any other equity share in the company.