Paytm on Wednesday announced that its CEO Vijay Shekhar Sharma has voluntarily forgone all 2,10,00,000 (Two Crore Ten Lakhs) ESOPs granted to him under One 97 Employees Stock Option Scheme, 2019, with immediate effect.
The company further said that its Remuneration Committee of the Board of the Company ("NRC") has consequently returned back ESOPs in question to the ESOP pool.
This will result in a one-time, non-cash, acceleration of ESOP expense of Rs 492 crores in Q4FY25, and an equivalent lowering of ESOP expenses in future years.
The stock of One 97 Communication settled at 864.50 on Wednesday, up by 24.90 points or 2.97% on BSE.
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