Increase in aggregate number of Employee stock option and equity shares reserved under ''Veefin- Employee Stock Option Plan 2023.''
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Veefin Solutions' shareholders, at the 5th AGM held on September 26, 2025, approved increasing the aggregate ESOP pool under the 'Veefin - Employee Stock Option Plan 2023' from 28,00,000 to 38,00,000 options, creating an additional 10,00,000 options for eligible employees. So far, 24,91,885 options have been granted, 13,05,950 have vested, 10,89,587 have been exercised (raising about Rs. 1.09 crore), and only 7,066 options have lapsed. The exercise price will be set by the Nomination and Remuneration Committee between the face value (Rs. 10) and the previous day's closing market price. Vesting will happen over 1 to 6 years from the grant date.
This is a roughly 36% expansion of the ESOP pool, which means potential future dilution for existing shareholders if the new options are fully exercised. It also signals management's intent to attract and retain talent by offering more equity incentives, which is generally neutral-to-slightly-negative for existing shareholders in the short term.