Yatra Online (YTRA) Director Shringi Dhruv Receives Award (Invalid)

What Happened
Shringi Dhruv, a director of Yatra Online, was reported on the Form 4 to have been granted four awards of 256,410 Performance Stock Units (PSUs) each on August 5, 2026 (totaling 1,025,640 PSUs). Each award was reported at $0.00 (derivative awards). However, the company subsequently determined these grants (totaling 1,025,640 PSUs) were invalid due to an administrative error, and no shares underlying those grants were issued.

Key Details

• Transaction date: August 5, 2026; Form filed August 6, 2026 (appears timely).
• Reported grant detail: four awards of 256,410 PSUs each; total 1,025,640 PSUs; reported price $0.00 (derivative award code A).
• Outcome: Per footnote F3, the 1,025,640 PSUs were deemed invalid and were not granted — no actual shares were issued.
• Vesting triggers (per footnotes F2–F6): vesting was tied to the 20-day VWAP of Yatra Online Limited (subsidiary) exceeding INR 208 or INR 236 on a trading day; expiration dates noted July 19, 2027 and November 8, 2028 for different tranches.
• Conversion note (F1): trigger prices shown reflect an exchange ratio of 1.58 Yatra Online Limited shares per PSU and INR 87.7 = USD $1.00.
• Shares owned after transaction: not changed by these grants because the company states the grants were invalid and no shares were issued.

Context
Performance Stock Units are conditional awards that only convert to shares if specified price/vesting conditions are met. Although the Form 4 initially reported the PSU grants, the issuer’s correction (invalidating the grants) means there was no transfer of shares and no change in insider holdings — therefore this filing does not indicate a purchase or sale by the insider.