NAVA Limited’s Nomination & Remuneration Committee has approved the grant of 6,80,000 Restricted Stock Units (RSUs), designated as Grant-VI, under the NAVA – RESTRICTED STOCK UNIT PLAN 2023. These RSUs are intended for eligible employees of the company. The pricing formula indicates an exercise price of ₹465/- per RSU. The vesting schedule commences with 20% of RSUs vesting on August 14, 2027, with subsequent tranches vesting annually until August 14, 2030.
Employee Equity Incentive Approved
NAVA Limited has officially announced the approval of a new employee stock option grant. The company’s Nomination & Remuneration Committee, during a meeting held on August 14, 2026, sanctioned the grant of 6,80,000 Restricted Stock Units (RSUs). This initiative, designated as Grant-VI, is part of the ‘NAVA – RESTRICTED STOCK UNIT PLAN 2023’ (‘NAVA RSU 2023’) and aims to incentivize and retain eligible employees.
Key Grant Details
The RSUs represent a total of 6,80,000 equity shares of Re.1/- each of NAVA Limited. Each RSU provides the holder with the right to apply for and be allotted one equity share of the Company. The exercise price for each RSU has been set at ₹465/-. The scheme is compliant with SEBI (SBEB) Regulations, 2021.
Vesting and Exercise Schedule
The vesting period for all granted RSUs will not commence earlier than a minimum period of one year from the grant date. The specific vesting schedule is as follows:
- 1st Tranche: 20% of RSUs granted on 14-August-2027
- 2nd Tranche: 20% of RSUs granted on 14-August-2028
- 3rd Tranche: 25% of RSUs granted on 14-August-2029
- 4th Tranche: 35% of RSUs granted on 14-August-2030
The Nomination and Remuneration Committee retains the discretion to alter this schedule, provided such changes are not detrimental to the employees’ interests and comply with applicable laws.
Following vesting, the exercise period for RSUs shall be up to ninety (90) days from the date of vesting. The committee also holds the authority to modify or terminate the NAVA RSU 2023 plan, subject to regulatory compliance.
Lapsed RSUs
In a separate note, the company reported that 98,000 RSUs have lapsed.
Source: BSE
