Food delivery platform Zomato has approved a total grant of 12 million stock options to the eligible employees, under the Foodie Bay Employee Stock Option Plan 2014 (ESOP 2014) and the Zomato Employee Stock Option Plan 2021 (ESOP 2021).

“We wish to inform that Nomination and Remuneration Committee of the Company by way of circular resolution today, on October 2, 2024 has approved a total grant of 1,19,97,768 stock options under Foodie Bay Employee Stock Option Plan 2014 (ESOP 2014) and Zomato Employee Stock Option Plan 2021 (ESOP 2021) to the eligible employees,” Zomato said in a BSE filing on October 2.

Each stock option is convertible into one fully paid up equity share having face value of Rs 1 each, it said.

“Stock Options granted shall be capable of being exercised within (a) 10 years from the date of vesting of options, or (b) 12 years from the date of listing, whichever is later under ESOP 2014 and ESOP 2021,” Zomato stated.

Zomato’s shares on Friday jumped 2.38 per cent or Rs 6.40 to close at Rs 275.2 apiece on the BSE. At the current price, the entire ESOPs scheme becomes worth Rs 330.17 crore.

Source: News18