Avenue Supermarts Limited has announced the grant of 50,000 stock options to an eligible employee under its Employee Stock Option Scheme (ESOP) 2023. These options are divided into two categories, Class A and Class B, with specific vesting dates extending into 2029 and 2032. This move aligns with the company’s commitment to employee retention and long-term value creation, as authorized by shareholders during the 2023 Annual General Meeting.
Details of the ESOP Grant
On May 2, 2026, the company’s Nomination and Remuneration Committee approved the grant of 50,000 stock options. Each option carries a face value of Rs. 10/- and is convertible into one fully paid-up equity share upon exercise. The pricing for these options has been set at Rs. 4,080/- per option, which represents the cost payable by the grantee at the time of exercise.
Vesting and Exercise Schedule
The granted options are split into two classes, each with distinct vesting timelines subject to performance criteria. Class B options are scheduled to vest on September 1, 2029, while Class A options are slated for vesting on September 1, 2032. Once vested, employees have an exercise window of three months to convert these options into equity shares.
Context of the 2023 ESOP Scheme
This grant is part of a larger pool approved by shareholders at the Annual General Meeting held on August 10, 2023, which authorized up to 1,500,000 options. Prior to this latest announcement, the company had already granted 1,237,250 options on September 1, 2023, and 125,000 options on January 13, 2024, to eligible employees within the company and its subsidiaries.
Source: BSE
