Kirloskar Oil Engines Limited has announced the voluntary surrender and cancellation of 36,108 employee stock options. This decision, approved by the Nomination and Remuneration Committee and the Board of Directors on August 6, 2026, reduces the total outstanding options from 2,40,000 to 2,03,892. The move is part of the company’s ongoing ESOP management, with other terms remaining unchanged from the initial grant on May 14, 2026.
Kirloskar Oil Engines Adjusts Employee Stock Options
Kirloskar Oil Engines Limited has formally communicated a significant adjustment to its employee stock option plan. On August 6, 2026, the company’s Nomination and Remuneration Committee, alongside the Board of Directors, approved the voluntary surrender and subsequent cancellation of a substantial number of employee stock options. Specifically, 36,108 options were cancelled.
Impact on Outstanding Options
This cancellation has led to a reduction in the total number of outstanding employee stock options. Originally, on May 14, 2026, the company had granted 2,40,000 options under the ‘Kirloskar Oil Engines Limited – Employee Stock Option Plan 2019’ (KOEL ESOP 2019). Following the recent cancellation, the total number of outstanding options now stands at 2,03,892. All other terms and conditions pertaining to the grant of these options remain in effect as per the earlier disclosure dated May 14, 2026.
Board Meeting Details
The decisions regarding the option cancellation were made during a meeting of the Board of Directors that commenced at 1:45 PM and concluded at 4:45 PM on August 6, 2026.
Source: BSE
