Mastek Limited announced the approval for granting 6,00,000 (Six Lakhs) Stock Options to eligible employees under its existing ESOP Plans VI and VII. The effective grant date is set for April 1, 2026. Each option carries an exercise price of Rs. 1,000. Vesting is conditional, potentially occurring across the 3rd, 4th, and 5th years post-grant, contingent upon meeting pre-set performance milestones.
Approval of New Stock Option Grant
Mastek Limited has confirmed the approval for the grant of 6,00,000 (Six Lakhs) Stock Options to eligible employees across its Employee Stock Option Plans (ESOP) VI and VII. This action follows the necessary approvals and is in compliance with relevant corporate guidelines.
Key Grant Details
The most critical terms associated with this grant are summarized below:
- Total Options Granted: 6,00,000 Stock Options.
- Grant Effective Date: April 1, 2026.
- Exercise Price: The fixed price for exercising each option is Rs. 1,000/- per Option.
- Share Details: These options are exercisable into an equal number of equity shares, each having a face value of Rs. 5 (Rupees Five) fully paid up.
Vesting Schedule and Conditions
The vesting of these options is explicitly tied to achieving performance conditions defined by the Nomination and Remuneration Committee. The schedule outlines a staggered vesting approach:
- Vesting up to 100% of the Options may occur at the end of the 3rd year from the grant date, subject to performance fulfillment.
- If conditions are missed in the first vesting window, unvested options may vest on the 2nd vesting date (i.e., 4th year), subject to meeting conditions then.
- If conditions are still missed, remaining unvested options may vest on the 3rd vesting date (i.e., 5th year), subject to performance fulfillment.
- All options remaining unvested after the 3rd vesting date will lapse.
Exercise Period
Once an option has vested, the maximum period available to the employee to exercise that vested option is 7 years from the actual date of vesting. The scheme remains governed by the administrative framework of ESOP Plan VI and Plan VII.
Source: BSE
