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• Annual Report 2018-19
Shaping the future of software driven business
# Adjusted for bonus issue of shares.
*No contractual life is defined in the scheme.
**The options under Scheme XI, which is a performance based ESOP scheme will vest after 3 years in proportion of credit
points earned by the employees every quarter based on performance. The maximum options which can be granted under this
scheme are 2,000,000.
***The options under Scheme XII, ESOP scheme would vest after 1 year. The maximum options which granted under this
scheme are 50.
The vesting period and conditions of the above ESOP schemes is as follows:
All the above ESOP schemes have service condition, which require the employee to complete a specified period of service, as
a vesting condition. The vesting pattern of various schemes has been provided below:
(i) Scheme I to V, VII, VIII and X:
Service period from the date of grant
% of Options vesting
Scheme I to V & X
Scheme VII
Scheme VIII
12 Months
10%
20%
25%
24 Months
30%
40%
50%
36 Months
60%
60%
75%
48 Months
100%
80%
100%
60 Months
NA
100%
NA
(ii) Scheme VI:
Service period from the date of grant
% of Options vesting
18 Months
30%
Every quarter thereafter
5%
(iii) Scheme IX:
Service period from the date of grant
% of Options vesting
30– 60 Months varying from employee to employee
100%
(iv) Scheme XI:
Service period from the date of grant
% of Options vesting
3 years
Based on credit points earned
(v) Scheme XII:
Service period from the date of grant
% of Options vesting
1 year
100%
b) Details of activity of the ESOP schemes
Movement for the year ended March 31, 2019 and March 31, 2018:
ESOP
Scheme
Particulars
Year Ended
Outstanding at
the beginning of
the Year
Granted
during the
Year
Forfeited
during the
Year
Exercised
during the
Year
Outstanding
at the end of
the Year
Exercisable at
the end of the
Year
Scheme I
Number of Options March 31, 2019
20
-
-
2
18
18
Weighted Average
Price
March 31, 2019
4.19
-
4.19
4.22
4.42
4.42
Number of Options March 31, 2018
6,583
-
6,559
4
20
20
Weighted Average
Price
March 31, 2018
5.51
-
5.51
5.56
4.19
4.19
Notes forming part of financial statements (Contd.)