Delhivery approves grant of 628,000 stock options

Delhivery (BSE: 543529) has announced the grant of 628,000 stock options to eligible employees under the Delhivery Employees Stock Option Plan 2012, as approved by the Nomination and Remuneration Committee of the Board. Each option is convertible into one fully paid-up equity share with a face value of INR1 each, subject to fulfillment of the conditions specified in ESOP-2012. 10% of the stock options granted will vest upon the completion of 12 months from the date of grant, 30% will vest upon completion of 24 months, and the remaining options will vest at a rate of 15% every 6 months thereafter, vesting over a period of 4 years. The stock options can be exercised anytime from their vesting date until the employee is no longer employed by the company. The exercise price is INR1 per share.