Godrej Industries’ Nomination and Remuneration Committee approved the grant of 832 stock options under the Employee Stock Grant Scheme 2011 (ESGS 2011) to eligible employees. The exercise price is ₹1 per option. Additionally, the committee noted the lapse of 683 stock grants issued under the same scheme.
Fresh Stock Grants Approved
The Nomination and Remuneration Committee of the Board has approved the grant of 832 stock options under the Godrej Industries Limited – Employee Stock Grant Scheme, 2011 (ESGS 2011). These grants are available to eligible employees of the Company at an exercise price of ₹1 per option.
Each stock grant allows the holder to apply for one equity share of the Company with a face value of ₹1. These stock options will vest over a period of 3 years and can be exercised within 1 month from the vesting date, or another period determined by the Nomination and Remuneration Committee.
Lapse of Stock Grants Noted
The Nomination and Remuneration Committee also took note of the lapse of 683 stock grants issued under the ESGS 2011 to an eligible employee. Consequently, this employee no longer has any right to claim any part of these lapsed stock grants.
Source: BSE
