Paytm Allots Stock Options, Equity Shares To Eligible Employees
One97 Communications, the parent company of Paytm, has announced the approval of granting 91,250 stock options under its Employee Stock Option Plan (ESOP) 2019.
This decision was made following the approval by the Nomination and Remuneration Committee of the company's board. Additionally, the committee has approved the allotment of fully paid-up 2,91,388 equity shares to eligible employees under the ESOP 2008 and 2019 schemes.
According to the stock exchange filing, each stock option under the ESOP 2019 is convertible into one fully paid-up equity share with a face value of Rs 1 each, at an exercise price of Rs 9 per stock option. Out of the total equity shares allotted to eligible employees, 2,86,997 equity shares were issued under the ESOP 2019 scheme, while 4,391 equity shares were issued under the ESOP 2008 scheme.
These allocations were officially issued on 4 April 2024, as disclosed by the company. As a result of this allotment, the equity shares capital of One97 Communications has seen an increase, now standing at over Rs 63.57 crore. This move reflects the company's commitment to incentivizing and rewarding its employees through stock options and equity shares, thereby aligning their interests with the company's growth trajectory.
