..............means applying by the employee for issue of shares against the option vested in him.

Excercise

The correct answer is option 1- Excercise.

Exercise: It means applying by the employee for issue of shares against the option vested in him.

OTHER OPTIONS

• Exercise Period : Period after vesting within which the employee must exercise the right to apply for shares against the option vested in him in pursuance of the Employees Stock Option Plan.

• Exercise Price : The price payable by the employee for exercising the option granted in pursuance of the Employees Stock Option Plan.

• Grant: Grant means giving an option to the Employees to subscribe to the shares of the company at the pre-determined price.