SH-6 — Register of ESOP grants

Rule 12(10) of the Companies (Share Capital and Debentures) Rules requires a company to maintain a register of Employee Stock Options in Form SH-6, recording each grant — the employee, the number of options, the grant date, exercise price, vesting schedule and exercise details as options are exercised. It sits alongside the register of members as a statutory record open to inspection.

The SH-6 is the document that ties a scheme approved under Section 62(1)(b) to the individual grant letters issued to employees; a diligence review checks that every option shown as outstanding in the SH-6 has a corresponding grant letter and that the vesting shown matches the scheme's Rule 12 minimum one-year cliff. Saral's vesting engine computes vesting daily against the grant terms, so the SH-6 view is always current rather than a spreadsheet someone updates at the end of each quarter.

On exercise, the SH-6 entry updates to reflect the shares allotted, and that allotment in turn triggers its own PAS-3 filing — the two records are linked events on the same ledger, not separately maintained documents.

The cap table, where SH-6 — Register of ESOP grants appears as a computed field traced to the ledger event that created it.