Intimation for Grant of Stock Options under CTT (ESOP) 2021 (I)
CARTRADE · price
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CarTrade Tech Ltd has granted 50,000 stock options to an eligible employee who is a relative of a Director of the Company, under the Employee Stock Option Plan 2021 (I). Each option converts into 1 equity share of face value Rs. 10. The exercise price is set at market price with no discount, calculated as the lower of the closing price on the last trading day before grant or the 30-day average closing price. The options vest in 4 equal tranches of 25% each year, starting after 1 year from the grant date. Vested options can only be exercised 2 years after the grant date and must be exercised within 10 years of the grant.
This is a routine ESOP grant and generally has a negligible impact on the stock. However, since the beneficiary is a relative of a Director, it may attract some scrutiny on related-party dealings. The potential dilution is minor at 50,000 shares.