• ESOP Benchmarking Survey - 2026

    This is benchmarking survey is designed by Hissa in collaboration with WTW

  • Registration

    Tell us about yourselves

  • Please refer the following links for more information about ESOPs. These include white papers, guides and blogs

    Startup Periodic Table of Terms

    ESOP ebooks and Whitepapers

    ESOP Blogs

  • Company Profile

    Capture basic company details, stage, size, structure, and operating footprint to understand the context in which ESOP/LTI plans are designed and managed.
  • Company Stage*
  • Company Structure*
  • Company Management*
  • Total Employee Count*
  • Last funding round valuation (INR)*
  • Company valuation (INR)*
  • Market Cap (INR)*

  • LTI Structure

    Long-Term Incentives (LTI) refer to compensation linked to long-term value creation, such as ESOPs, RSUs, SARs, phantom stock, or other equity-linked plans. Unless specifically mentioned, ESOP is used as an umbrella term for stock-based LTI plans offered to employees.
  • Does your company have LTI through stock options in place?*
  • What are the primary objectives of your company's LTI program?*
  • When was the LTI plan introduced?*
  • ESOP pool size (% of fully diluted capital)*
  • Type of plan(s) offered*
  • How are your plans settled?*

  • Eligibility

    Define who is eligible to receive ESOP/LTI grants based on role, department, level, location, country, employment type, or any other company-defined criteria. This helps identify whether eligibility is broad-based, limited to specific teams, or restricted to select employees/key contributors. If you are planning to implement an ESOP/LTI policy, please answer based on your current thinking or proposed approach.
  • Who is eligible for ESOPs/ LTI? (select all that apply)*
  • Select all countries where the company has employees or consultants who have been granted ESOP/LTI benefits.*
  • Are shop floor staff eligible to receive ESOPs?*
  • What percentage of employees currently hold ESOPs?*
  • What is the minimum tenure required for ESOP eligibility?*
  • How are options granted to employees outside India?*
  • How are global options granted to employees in India?*
  • Do remote/ multi-location employees have the same ESOP terms?*

  • Please refer the following links for more information about ESOPs. These include white papers, guides and blogs

    Startup Periodic Table of Terms

    ESOP ebooks and Whitepapers

    ESOP Blogs

  • Allocation

    Define how ESOP/LTI grants are allocated or planned to be allocated to eligible participants — whether linked to salary/CTC, expressed as a percentage of company equity, or calculated using a role, level, performance, or formula-based methodology.
  • How has the ESOP pool been set up or how do you plan to set it up?
  • To what extent are investors involved in the design or approval of the ESOP plan?*
  • How are grants allocated or determined across employees/roles?*

  • Select the ESOP allocation range based on the employee’s CTC. For example, if a Senior engineer is being offered options equivalent to 50% of CTC, select the “30–50%” range. Use “Ad-hoc” where the grant is not linked to a defined CTC percentage.

  • How are grants determined as a percentage of employee CTC across different employee groups or levels?*
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  • Are ESOP grants defined as a percentage of the Company’s equity for any employee groups or roles (instead of being linked to CTC)?*
  • How frequently are grants provided or refreshed?*
  • Have ESOPs/LTIs been offered in lieu of a portion of employees’ cash compensation?

  • Vesting

    How are ESOP/LTI vesting conditions currently structured, or proposed to be structured? Vesting defines when grants become available to participants and may be based on time, milestones, performance, events, or a combination of these.
  • Vesting period*
  • Vesting cliff period*
  • What is the vesting frequency after cliff?*
  • What are vesting conditions typically based on?*
  • What are the performance metrics linked to vesting?*
  • How are vesting schedules typically structured?*

  • Exercise & Strike Price

    How are ESOP/LTI exercise terms currently structured, or proposed to be structured? Exercise terms define when vested options can be exercised and converted into shares, as well as the price payable on exercise. The exercise price (also referred to as strike price or grant price) may be based on face value, fair market value (FMV), a discounted value, or any other price approved by the Company.
  • How is the exercise/strike price determined?*
  • Do you have grants with differing strike prices*
  • What is the exercise policy for 'Current employees'?*
  • What if employee doesn't exercise?*

  • Post termination exercise period (PTEP)

    Post-Termination Exercise Period (PTEP) is the time window an employee has to exercise vested options after leaving the company. A longer PTEP gives employees more flexibility, while a shorter PTEP may force quicker exercise decisions after exit. If you are planning to implement an ESOP/LTI policy, please answer based on your current thinking or proposed approach.
  • How long does the employee have to exercise vested options?*
  • What are the liquidity alternatives in case of restricted exercise?*
  • How are vested options treated in case of non-voluntary termination scenarios (termination for cause)?*
  • How are unvested options treated upon on termination?*

  • Upcoming section: Liquidity

    The next set of questions relates to liquidity opportunities available to employees and shareholders. Please answer based on your organization's current practices and policies.

  • Helpful resources:

    • Link 1
    • Link 2

  • Liquidity & Exit

    Liquidity refers to the events or opportunities which determine when employees can convert their equity into cash or proceeds. These may include buybacks, secondary sales, tender offers, IPOs, acquisitions, mergers, or company-approved liquidity windows.
  • Has any Liquidity Event occurred so far? (If listed, select only events occurred before listing)*
  • How often has the Company provided liquidity? (If listed, select the applicable frequency considering only the period prior to listing)*
  • When are you planning the next liquidity event?*
  • At what price is liquidity/ buyback typically offered?*
  • Will you be open to offer a liquidity program for employees, if third party provides liquidity?*

  • Governance and Compliance

    Defines how the ESOP/LTI plan is managed, approved, tracked, and reported. This includes board/shareholder approvals, regulatory compliance, use of systems for tracking, audit trails, and periodic reporting. If you are planning to implement an ESOP/LTI policy, please answer based on your current thinking or proposed approach.
  • Who is the governing body for ESOPs?*
  • Who administers ESOPs?*
  • What is the ESOP management system?*
  • How often is the ESOP policy reviewed?*
  • What is the ESOP reporting policy?*
  • Have regulatory requirements (RBI/SEBI/IRDAI) influenced the ESOP/LTI structure?*
  • What are the Clawback provisions supported?*

  • Compensation Accounting

    Defines how ESOP/LTI costs are measured, recorded, and reported in the company’s books. This may include valuation method, accounting standard, expense recognition, disclosures, and audit treatment.
  • ESOP accounting approach*
  • ESOP disclosure*
  • How is the fair value of options computed for accounting (Ind AS 102 / GAAP)?*
  • How frequently do you get an option valuation updated?*
  • How is US IRC Section 409A compliance done?*

  • Listing and beyond

    How was the ESOP/LTI plan be managed during IPO, listing, and post-listing stages? This may include lock-ins, exercise windows, tax events, trading restrictions, disclosures, and ongoing compliance.
  • Did you revise the ESOP policy from Pre-IPO to Listing?*
  • Do ESOP grants continue post-IPO?*
  • What is the applicable lock-in period for sale of shares after IPO/listing?*
  • Do employees exercise and sell immediately post-listing?*

  • Employee feedback

    Captures what the company has learned from employees about ESOP/LTI awareness, concerns, and expectations. This may include feedback on value perception, tax, exercise cost, liquidity, communication gaps, or plan design.
  • What are the most common questions employees ask about ESOPs/LTI?*
  • Have employees clearly understood how the ESOP/LTI plan works?*
  • Do employees see ESOPs/LTI as meaningful compensation?*
  • Have employees requested more education, calculators, or scenario-based explanations?*

  • Communication

    Defines how ESOP/LTI details are communicated to employees, including grant letters, education sessions, key updates, tax calculations and structured explanations of plan terms and actions.
  • How do you communicate and support ESOP holders?*
  • What are the learning materials provided to employees?*
  • How are ESOPs/LTIs communicated or explained to shop floor employees?*
  • What tax-related support or assistance has been provided to ESOP/LTI holders?*

  • Challenges & Future

    Captures key challenges faced in managing and maintaining ESOP/LTI data and information, along with any improvements, updates, or changes planned over the next few months.
  • What aspects of the ESOP process do you find most challenging?*
  • What are the key challenges of using an ESOP Management Software?*
  • What ESOP/LTI changes are planned over the next 12 months?*
  • Should be Empty: