PB Fintech Limited, the parent company of Policybazaar, has introduced a new Employee Stock Option Scheme (ESOS) 2024.
The decision was made during a board meeting on August 14, 2024, and aims to reward employees with stock options, aligning their interests with the company’s growth.
Key Details of the ESOS 2024:
The company will offer up to 1.14 crore stock options. Each option allows an employee to buy one share of the company.
Vesting Conditions:
- The stock options will only vest (become available for purchase) if the company’s share price reaches 150% of what it was when the options were granted.
- All options will vest after four years if the share price condition is met.
Discounted Purchase Price
Employees will be able to buy shares at a 10% discount compared to the average share price over the 90 days before the options were granted.
Exercise Period:
Employees will have two years to buy the shares after they vest.
This new ESOS is designed to motivate and retain employees by giving them a stake in the company’s success, rewarding them for contributing to its long-term growth.
About PB Fintech Limited
PB Fintech is a leading fintech company in India, known for its popular online platform, Policybazaar, which offers a wide range of insurance and financial products. The company continues to expand both in India and internationally.
