| <p>Turtlemint Fintech Solutions is modifying its Employee Stock Option Plan (ESOP) scheme to align with recent Securities and Exchange Board of India (SEBI) regulations and streamline operations. Key changes include the removal of standard form templates and specific clauses related to share sales and group company employee grants, granting the Nomination and Remuneration Committee greater authority to issue options. The updated scheme, detailed in Annexure III, caps the total number of options at 1,21,93,045, mandates an exercise price at or above par value, and establishes a vesting period of at least four years from the date of listing. Shareholder approval will be required for grants exceeding 1% of equity share capital, and the modifications are expected to be presented to shareholders for ratification.</p> |