Intellect Design Arena has granted 5,21,000 RSUs to 29 associates under its ESOP/ISOP schemes, as approved by the Nomination, Remuneration and Compensation Committee (NRCC). The grant details the vesting schedules and prices, with fresh grants ensuring no prior surrenders. This initiative aims to incentivize and retain key talent within the organization.
RSU Grant Details
Intellect Design Arena has announced the granting of 5,21,000 RSUs to 29 associates under the ISOP/RSU 2016 Scheme 601 Type 2. This decision was made following the approval of the Nomination, Remuneration and Compensation Committee (NRCC).
Key Terms of the Grant
The grant price of each RSU is ₹5. The vesting schedules are detailed as follows:
< ・305500 RSUs for 22 associates will vest in three equal annual rests at the end of the 3rd, 4th & 5th year from the grant date.
< ・80000 RSUs for 5 associates will vest with 50% in the 4th & 5th year from the grant date.
< ・125000 RSUs for 1 associate will vest with 20% in the 3rd year, and 40% in the fourth & fifth year from the grant date.
< ・10000 RSUs for 1 associate will vest with 50% in the 2nd & 4th year from the grant date.
< ・500 RSUs for 1 associate will vest in four equal annual rests at the end of 1st, 2nd, 3rd & 4th Year from the grant date.
Additional Information
These grants are new and are not in place of any previously surrendered grants. Upon vesting, associates can convert RSUs to shares as per the scheme guidelines.
Source: BSE
