Mumbai, India- July 30, 2024: TAC Security, a leading global cybersecurity company specializing in vulnerability management and India’s first publicly listed cybersecurity company, made headlines with its oversubscribed IPO worth $1 Billion. TAC InfoSec Limited (NSE Emerge: INE0SOY01013), announced the approval of its Board of Directors for the TAC Employee Stock Option Scheme (ESOP) 2024. The scheme is designed to reward employees contributing to the growth of the organization, attract, retain, and motivate employees by aligning their interests with the company’s long-term growth and performance in the niche cybersecurity sector.
“At TAC Security, it’s the best time to reward team members working towards the company’s vision for many years. Our employees are our greatest asset. The approval of the ESOP is a testament to our commitment to empowering our team and aligning their success with the company’s growth. By fostering a culture of ownership and motivation, we are confident that this initiative will drive innovation and excellence, ensuring TAC Security remains at the forefront of the cybersecurity industry,” said Trishneet Arora, Founder, Chairman, and CEO of TAC Security.
TAC Security believes these strategic decisions will enhance employee commitment and drive the company’s mission forward, ensuring sustained growth and resilience in an evolving cybersecurity landscape. This approval aligns with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
In an exchange filing, the company stated that the formulation, adoption, and implementation of an employee stock option plan, namely TAC Employee Stock Option Plan 2024 (“ESOP 2024”), are subject to the approval of the Company’s shareholders. The plan considers the grant of employee stock options (‘Options’) to employees of the company, subsidiaries, and associate companies, if any.
Additionally, the Board has resolved to conduct a postal ballot to seek shareholders’ approval for the implementation of ESOP 2024.
The company aims to solidify its position as the world’s largest vulnerability management company by March 2026, with ambitious plans to acquire 10,000 customers globally. By March 2025, TAC Security targets securing 3,000 new customers, leveraging its innovative cybersecurity solutions.
TAC Security Adds Over 500 New Clients from 50 Countries in Q1FY2025
Interestingly, these clients are spread across the United States to Japan. Noteworthy additions to its client roster include Autodesk, Salesforce, Zoominfo, Dropbox, Blackberry, Xerox, Brady Corporation, FAO of United Nations, FUJIFILM, CASIO, Nissan Motors, Juspay, One Card, Zepto, and MPL Gaming, among others.
TAC Security expects a boost in its solutions amid the recent cyber outage that took place in mid-July.
