| Schedule of Terms And Conditions of Share Based Payment Arrangement under Employee Stock Option Plan Schemes |
The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome. The relevant terms of the Holding Company Stock Option Plans are as below:
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Holding Company Stock Option Plans |
Particulars |
2018 Stock Option Plan Modified |
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2018 Stock Option Plan |
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2017 Stock Option Plan |
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2016 Stock Option Plan |
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2014 Stock Option Plan |
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2011 Stock Option Plan |
Grant date |
August 16, 2019 |
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Multiple |
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Multiple |
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Multiple |
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Multiple |
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Multiple |
Replacement date |
August 23, 2021 |
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August 23, 2021 |
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August 23, 2021 |
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August 23, 2021 |
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August 23, 2021 |
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August 23, 2021 |
Vesting period |
Time linked vesting:
Grants will vest in 5 years on quarterly basis which shall commence one year after the date of original grant of options. |
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Time linked vesting:
50 % of grants will vest in 5 years as follows:
i) One year from the date of original grant, the Options for the first four quarters shall vest immediately.
ii) Thereafter, vesting will continue on a quarterly basis for the unvested Options.
Remaining 50% will vest at the end of 5 years from the date of original grant. |
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Time linked vesting:
50 % of grants will vest in 5 years as follows:
i) One year from the date of original grant, the Options for the first four quarters shall vest immediately.
ii) Thereafter, vesting will continue on a quarterly basis for the unvested Options.
Remaining 50% will vest at the end of 5 years from the date of original grant. |
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Time linked vesting:
5 years on quarterly basis effective from December 1, 2015 on completion of one year from the date of original grant, the Options for the first seven quarters shall vest immediately. Thereafter, vesting will continue on quarterly basis for the unvested Options commencing from December 1, 2017.
Performance linked vesting:
The Options shall vest annually and shall be prorated over a period of 3 years from the date of grant and shall be subject to the EBITDA achieved by the Company for the last completed financial year. The vesting of the Options shall take place at the end of the first anniversary of the date of original grant (Vesting date) and thereafter on March 31, 2018 and March 31, 2019 or at a later date when the audited financial statements of RPL are available. |
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Time linked vesting:
5 years on quarterly basis which shall commence one year after the date of original grant of option. |
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Time linked vesting:
5 years from the original grant date. |
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Exercise period |
Within 10 years from the date of original grant upon vesting |
Exercise price |
USD 5.33 |
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USD 5.33, 5.53 and 5.60 |
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USD 4.53 |
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USD 2.73 |
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USD 1.75 |
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USD 1.33 |
Settlement type |
Equity settled |
Expiry date |
August 16, 2029 |
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April 24, 2028 to
December 31, 2030 |
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April 10, 2027 to
February 25, 2028 |
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September 30, 2026 |
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December 31, 2022 to
January 1, 2025 |
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September 30, 2021 to
December 31, 2022 |
Number of options outstanding as at (in million):
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March 31, 2025 |
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1 |
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1 |
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7 |
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1 |
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1 |
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1 |
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March 31, 2024 |
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1 |
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1 |
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7 |
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1 |
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1 |
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1 |
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| Schedule of Terms And Conditions of Share Based Payment Arrangement under Employee Stock Option Plan Schemes |
According to this scheme, the employees selected by the compensation committee from time to time will be entitled to options as per grant letter issued by the compensation committee, subject to satisfaction of prescribed vesting conditions. The employees will be issued class A equity share of the Company on exercises of this incentive plan.
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Particulars |
2021 Incentive Plan |
Grant date |
February 10, 2025 |
October 23, 2024 |
August 23, 2024 |
May 24, 2024 |
May 15, 2024 |
April 10, 2024 |
April 1, 2024 |
April 1, 2024 |
Vesting period |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Performance criteria. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Performance criteria. |
12.5% shares to vest on last day of each quarter starting from Sep 2023 until entire subsequent option grant gets vested. |
Restricted Stock Units (RSUs)
On the 1st anniversary of the Grant Date - 33%;
On the 2nd anniversary of the Grant Date – 33%;
On the 3rd anniversary of the Grant Date – 34%
Performance Based Units (PBUs)
On the 3rd anniversary of the Grant Date – 100% subject to achievement of Performance Metrics |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Performance criteria. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Performance criteria. |
Restricted Stock Units (RSUs)
On the 1st anniversary of the Grant Date - 33%;
On the 2nd anniversary of the Grant Date – 33%;
On the 3rd anniversary of the Grant Date – 34%
Performance Based Units (PBUs)
On the 3rd anniversary of the Grant Date – 100% subject to achievement of Performance Metrics |
Restricted Stock Units (RSUs)
On the 1st anniversary of the Grant Date - 33%;
On the 2nd anniversary of the Grant Date – 33%;
On the 3rd anniversary of the Grant Date – 34%
Performance Based Units (PBUs)
On the 3rd anniversary of the Grant Date – 100% subject to achievement of Performance Metrics |
Exercise period |
Within 10 years from the date of grant upon vesting |
Within 8 years from date of grant upon vesting |
Within 10 years from the date of grant upon vesting |
Within 8 years from date of grant upon vesting |
Exercise price |
USD 6.38 |
USD 5.95 |
USD 10 |
USD 0.0001 |
USD 6.06 |
USD 6.84 |
USD 0.0001 |
USD 0.0001 |
Settlement type |
Equity Settled |
Expiry date |
February 10, 2035 |
October 23, 2034 |
August 23, 2034 |
May 24, 2032 |
May 15, 2034 |
April 10, 2034 |
April 1, 2032 |
April 1, 2032 |
Number of options outstanding as at (in million):
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March 31, 2025 |
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0 |
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0 |
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4 |
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RSU- 0
PBU- 0 |
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4 |
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4 |
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RSU- 0
PBU- 0 |
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RSU- 1
PBU- 0 |
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March 31, 2024 |
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- |
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- |
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- |
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- |
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- |
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- |
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- |
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- |
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Particulars |
2021 Incentive Plan |
Grant date |
February 15, 2024 |
November 1, 2023 |
October 27, 2023 |
September 13, 2023 |
September 13, 2023 |
August 23, 2023 |
July 7, 2023 |
June 5, 2023 |
Vesting period |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
Restricted Stock Units (RSUs)
On the 1st anniversary of the Grant Date - 33%;
On the 2nd anniversary of the Grant Date – 33%;
On the 3rd anniversary of the Grant Date – 34%
Performance Based Units (PBUs)
On the 3rd anniversary of the Grant Date – 100% subject to achievement of Performance Metrics. |
12.5% shares to vest on last day of each quarter starting from Septemner 2023 untill entire subsequent option grant gets vested. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
Exercise period |
Within 10 years from the date of grant upon vesting |
Within 8 years from date of grant upon vesting |
Within 10 years from the date of grant upon vesting |
Exercise price |
USD 6.84 |
USD 5.78 |
USD 5.34 |
USD 5.87 |
USD 0.0001 |
USD 10.00 |
USD 5.48 |
USD 5.34 |
Settlement type |
Equity Settled |
Expiry date |
February 15, 2034 |
November 1, 2033 |
October 27, 2033 |
September 13, 2033 |
August 22, 2031 |
August 23, 2033 |
July 7, 2033 |
June 5, 2033 |
Number of options outstanding as at (in million):
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March 31, 2025 |
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0 |
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0 |
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1 |
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9 |
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RSUs- 1; PBUs- 1 |
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4 |
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0 |
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0 |
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March 31, 2024 |
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0 |
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0 |
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1 |
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9 |
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RSUs- 1; PBUs- 1 |
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4 |
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0 |
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0 |
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Particulars |
2021 Incentive Plan |
Grant date |
March 15, 2023 |
November 15, 2022 |
September 15, 2022 |
August 22, 2022 |
June 10, 2022 |
August 23, 2021, November 15, 2021 and March 15, 2022 |
August 23, 2021 |
Vesting period |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
12.5% of stock options will vest at the end of each quarter over a period of 2 years in a time based manner. |
Grant 1
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's Performance criteria.
Grant 2
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 10% of stock options will vest at every anniversary of the grant date based on Company's Performance criteria |
80% of options will vest over a period of 4 years in a time based manner, out of which 20% will vest after one year and remaining 60% will vest over the next 12 quarters (i.e. 5% in each quarter).
In addition, out of the remaining 20% option, 5% of stock options will vest at every anniversary of the grant date based on Company's performance. |
6.25% of stock options will vest at the end of each quarter over a period of 4 years in a time based manner. |
Exercise period |
Within 10 years from the date of grant upon vesting |
Exercise price |
USD 5.85 |
USD 6.83 |
USD 10.00 |
USD 10.00 |
USD 10.00 |
USD 10.00 |
USD 10.00 |
Settlement type |
Equity Settled |
Expiry date |
March 15, 2033 |
November 15, 2032 |
September 15, 2032 |
August 23, 2032 |
June 10, 2032 |
August 23, 2031 to
February 23, 2032 |
August 23, 2031 |
Number of options outstanding as at (in million):
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March 31, 2025 |
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0 |
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0 |
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0 |
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4 |
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1 |
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6 |
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23 |
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March 31, 2024 |
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0 |
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1 |
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0 |
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4 |
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1 |
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7 |
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23 |
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