eClerx Services has announced the vesting of 498,610 employee stock options under its Employee Stock Option Scheme 2022. The Nomination and Remuneration Committee of the Board of Directors approved this at their meeting held on 13 May 2026. These options were part of a larger grant of 12,56,270 options issued to eligible employees of the company and its subsidiaries on 25 May 2023.
The Employee Stock Option Scheme 2022 complies with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The options cover a total of 12,56,270 equity shares, each with a face value of ₹10. The exercise price for these options is set at ₹709.91, determined by the lower of the latest available closing market price or the average of the two weeks’ high and low prices preceding the grant date.
Employees have a window of three years from the date of vesting to exercise their options. The scheme is administered via an ESOP Trust, authorised to purchase shares from the secondary market to facilitate ESOP exercises. In case of resignation or termination, all unvested options expire immediately, while vested options must be exercised before the employee’s last working day.
The ESOP Scheme 2022 allows the Nomination and Remuneration Committee to make fair and reasonable adjustments to the exercise price or the number of options in the event of any corporate action. No options have been exercised or lapsed, and there have been no subsequent changes or cancellations of the options.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).