Shyam Metalics and Energy Limited announced the vesting of employee stock options under the SMEL Employee Stock Incentive Plan 2023 (ESIP – 2023). This vesting occurs after the completion of the second year from the grant date. According to the vesting schedule, 23% and 30% of the granted options are now available for exercise, effective from September 27, 2025.
ESOP Vesting Details
Shyam Metalics and Energy Limited has completed the second year since the grant date, triggering the vesting of stock options under the SMEL Employee Stock Incentive Plan (ESIP – 2023). This includes options granted under the SMEL Performance ESOP Scheme (ESOP-2023) and the SMEL Loyalty ESOP Scheme (ESOP II – 2023).
Vesting Schedule and Exercise
Effective September 27, 2025, employees can now exercise 23% and 30% of the options initially granted. This announcement pertains to options granted to employees of Shyam Metalics and its subsidiaries.
Scheme Specifics
Under the SMEL Performance ESOP Scheme (“ESOP – 2023”), 17,000 options were granted to 1 eligible employee. The options were priced at ₹331, which represents a 25% discount on the market price as of September 27, 2023.
For the SMEL Loyalty ESOP Scheme (“ESOP II – 2023”), 216,000 options were granted to 5 eligible employees. The options were priced at ₹221, a 50% discount on the market price as of September 27, 2023.
Vesting Timeline
For the Performance ESOP Scheme, 20% of the total eligible options vest on the first anniversary of the grant date, 23% on the second, 23% on the third, and 34% on the fourth. Under the Loyalty ESOP Scheme, 40% of the total eligible options vest on the first anniversary, with 30% vesting on both the second and third anniversaries. As of September 27, 2025, 3910 and 57,900 options have vested under the Performance and Loyalty schemes, respectively.
Source: BSE
