KPIT Technologies has approved the grant of 54,100 stock options to eligible employees under its Restricted Stock Unit Plan 2022. This move, sanctioned by the Nomination and Remuneration Committee, aims to incentivize and retain key personnel. The options have an exercise price equal to the face value of the share, which is Rs. 10/- per option. Vesting is scheduled between 1 to 4 years, with exercise possible within 5 years post-vesting.
Employee Stock Option Grant Approved
The Nomination and Remuneration Committee of KPIT Technologies’ Board of Directors has approved the grant of 54,100 stock options to its eligible employees. This decision aligns with the company’s existing strategy under the KPIT Technologies Limited – Restricted Stock Unit Plan 2022 (RSU Plan 2022), previously approved by shareholders in August 2022.
Key Grant Details
The approved grant encompasses 54,100 options, with the exact number of recipients determined by the Committee. These options cover a total of 54,100 shares. The exercise price for each Restricted Stock Unit (RSU) has been set at the face value of the share on the grant date, amounting to Rs. 10/- per option.
Vesting and Exercise Period
Options granted under this plan are subject to specific vesting schedules. Vesting is expected to occur after a minimum period of 1 year, extending up to a maximum of 4 years from the grant date. Once vested, these options can be exercised by the employees within a period of 5 years from their respective vesting dates, or any other shorter period as determined by the Committee.
Source: BSE
